US dollar index continues to move lower
Yesterday saw the US dollar selloff continued apace, with price crashing down through the $94.20 target, to consolidate around $93.90.
Given the size of the overnight selloff, I would not be surprised to see some sort of retracement higher from here, but with such an important resistance level just above at $94.20, there is a possibility this could be short-lived.
A break back above $94.20 would point towards a more protracted retracement higher, at which point I would be watching for bearish reversal signals to cue another move lower. Medium-term downside support levels I am hoping to be hit are at $93.40, $93.17 and $92.75.