The US Dollar Index bounced off well from the initial support at 94.90/95.00 levels discussed yesterday. It is seen to trading around 95.40 levels at this point of writing and could push intraday towards 95.60/65 levels, before reversing lower again. The hourly chart could be suggesting that wave A of a larger degree is still unfolding and there could be yet another low towards 94.20 levels, which was termination of previous wave (4) as highlighted here. Also note that wave A might be unfolding into an impulse suggesting a deeper correction possible in the US Dollar Index later.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.