Dollar Index at crucial moment
The Dollar Index has pulled back majorly overnight to an absolutely crucial place. We are watching for continued higher highs and higher lows, yet with the current candle having come within 2 points of the previous low of 96.92, another move lower could really change the picture.
Thus I remain bullish unless we do see that move lower that crosses the 96.92 threshold. Should that occur, I would hold off to see if we create a new lower high and only then would I become bearish for the short-term.
This chart will be impacted by the FOMC later, so be aware of fundamentals today which could change the look and feel of this chart significantly. The next resistance in view is 97.32.