US Dollar Index continues to consolidate in a tight range since last 02 trading sessions. It is most probably into Wave C of an A-B-C decline from 91.60 levels, part of a complex corrective wave. If correct, the index is expected to form a higher bottom around 89.70, which is also the Elliott Channel support of A-B-C drop. Further, the fibonacci 0.786 retracement of entire rally between 89.20 and 91.60 is also passing through 89.70 mark. Watch out for a bullish reaction if prices manage to drop there.
Remain long against 89.20, towards 94.50
Remain long against 89.20, towards 94.50