DXY - In correction mode

The RSI divergence on the weekly, shown in my last post gave us a solid indication that the uptrend had lost its steam, and in fact we had a breakdown of the dollar index.

The gray trendline that comes from February has been broken, and even though we´ve had an upside movement for the last few days, I expect at least one more leg down, to test 104-105 support.

After that, I´ll wait for further price action to get a better picture of the index.

Kommentera:

Support has been reached, expect price to hold (even if we get a sideways or falling wedge price movement)