DXY Drops After Breakout

After a big growth and moving in the uptrend, DXY has made a lower high and started a correction phase.

Currently, price is approaching to the yellow support level around 95.950 which has pushed the price to the upside after every touch.

If price breaks the last minor low and the support level at 95.950, we expect a drop to the next major low at 95.518, and in the case of a downside breakout on this level and candle closure below it, the next target for US Dollar Index is about 94.970

Otherwise, if price doesn’t break the yellow level, we expect a rise to retest the bearish trend line.