DXY – NYBOT Dollar Index (Last:80.95)

NYBOT Dollar Index (DXY) price chart with targetsThe nearest rally resistance lies at 80.72, a Hidden Pivot whose provenance is shown in the accompanying chart.  Judging from the way DXY shredded its sibling midpoint at 79.35, it seems highly likely to be reached and should therefore serve as a minimum upside objective for the near term. If the target gives way easily, however, we should raise our sights to at least 81.80, a ‘D’ target realized by using the November 4 bottom as our point ‘A’. _______ UPDATE (12:03 p.m. ET): DXY sold off for six hours after topping within 0.07 points of the 80.73 target. They then embarked, almost without pause, on a rally that has reached 81.14 so far. The clear implication is that DXY is bound now for a minimum 81.80.