DXY – NYBOT Dollar Index (Last:84.77)

DXY NYBOT Dollar Index ChartThe 85.67 rally target given here yesterday was about as high as the intraday charts can take us, and it is all but guaranteed to show some stopping power if and when DXY gets there. However, the trend could fail anywhere beneath it — meaning that yesterday’s 85.27 high could prove to be an important top.  We should nonetheless remain open to the possibility that a 92.48 target on the weekly chart will eventually be realized. This looks like a longshot to me at this point, but the odds would shorten somewhat  if  86.87 should be exceeded without the occurrence of a b-c pullback.