DXY – NYBOT Dollar Index (Last:76.29)

The fact that the dollar has friends in high places, not to mention rumor-mongers to help out whenever the going gets tough, doesn’t seem to be providing the kind of lift the casual observer might expect. Minor rallies have gone nowhere, and they are being met with minor impulse legs going in the opposite direction.  The intraday charts don’t provide much clarity, but the daily bars suggest DXY is struggling to avoid the 75.47 target we flagged here a short while ago.  Keep in mind that if that Hidden Pivot gives way easily, the next scientifically determined stop on the way down would be 72.93, another number we have in play.