DXY: Dollar Index: testing critical support at 97.43DXY: Dollar Index has come back down to retest the recent lows at 97.43 - support extends down to 97.33 - so some kind of a fight should be expected in this range. The pattern is bearish, still (so only a speccy buy for contrarians with a stop just below 97.30) but be aware that a fall below 97.30 will tip DXY into full-on bearish territory again, signalling the next phase of dollar weakness back to 95.93, then, once this fails, to 95.02 (about another 2.5% - same as the last decline). Minor support at 96.90 could trigger a weak rally attempt back up to 97.3 during the early stages of this decline. London's waiting to see if NY steps in here to defend $...if it doesn't ride to the rescue around the open it will show that right now the Dollar hasn't got a friend left in the world...it should start to fall away as quickly as it did on the last decline at that point (barring possibility of a minor bounce at 96.90, as above). Go long Euro on the other side if/when this trade gets triggered (see Euro comment)
