Is the dollar breaking down? The burden of proof has returned to the bulls, since DXY has been unable to generate any impressive impulse legs on the hourly chart since bottoming in early June. Now, some bearish impulse legs have begun to occur on the hourly, so we’ll use the 76.59 target shown in the inset as a minimum downside objective.  The sibling midpoint of that number is 79.03, a support that was approached last week within 0.10 points. If it gives way this week and is exceeded on a closing basis, a further decline to at least 76.59 would become an odds-on bet.