DXY – NYBOT Dollar Index (Last:77.51)

The delicate precision of the pattern shown in the chart, coupled with DXY’s bounce exactly from a Hidden Pivot midpoint at 77.45, lends authority to the 76.91 target associated with the midpoint. That’s where we should assume this correction is headed, at least, but if DXY falls any lower it would be signaling more weakness over the near term. Alternatively, a pop above 77.64 would hint of a turn even if it won’t negate the downside target.