DXY – NYBOT Dollar Index (Last:75.17)

A downside Hidden Pivot at 74.36 given here earlier is still usable as a minimum objective, although DXY doesn’t seem to be in any hurry to get there. Friday’s somewhat lackluster rally spike was impulsive on the intraday charts — with a little camouflage to boot — but the enthusiasm detumesced so quickly as to render the pattern moot.  Ordinarily I’d say the interventionist are simply hanging out, waiting for the right opportunity to squeeze the buck higher. But the fact that there has been no intervention suggest the U.S. has not been able to garner the support it needs, at least not yet, to make a rally stick.