The US Dollar Index
managed to test recent swing lows at 95.65 levels yesterday before pulling back. It is seen to be trading close to 96.00 levels for now and looking at the short term wave structure, it could produce a complex correction, rallying towards 97.00 levels before resuming lower again. The higher degree structure remains unchanged with resistance at 97.71 levels intact for now and the US Dollar Index
looking poised to produce Wave (C) of a potential expanded flat or much lower. In either case, the index should be poised to drop
below 93.65 levels at least, going forward. It remain to be seen whether the short term structure produces a surprise rally to re-test 97.00 levels or not. Overall bearish
momentum prevails until prices remain below 97.71 levels.
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