The US Dollar Index has rallied past 96.70 levels, above our expectations and has print highs at 96.93 levels for now. Please note that the US Dollar Index has carved a potential lower high below 97.20 levels and could possibly reverse from here. We shall remain open to any alternate scenarios according to price action but the index maintains its bearish structure until prices remain below 97.20 levels, going forward. It still remains a safe trading strategy to hold potential short positions with risk above 97.20 levels and potential target at 94.70 and lower, respectively.
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