The last several July’s have been important for USDOLLAR
. An important top registered in July 2013. In 2014 (low was June 30th and rally began on 7/2), an important low formed. The index is not at a trend extreme but it is at an important technical level; the 61.8% retracement
of the June decline and slope resistance. The stage is set for another attempt on support (near 11770). A break below 11770 would be significant.