Dollar Index (last: 86.86)

it-wouldnt-take-muchThe multiyear high achieved two weeks ago came within 0.64 points of a rally target more than five months in coming, so we should be alert to the possibility that an important top is in.  The pullback has already generated several bearish impulse legs on the hourly chart and a couple of patterns that have reached their ‘d’ targets. However, it would take merely a further decline to 85.62 to achieve this on the daily chart.