The big picture still looks bullish, but the dollar was due for a rest after peaking two weeks ago within a hair of the 84.55 rally target shown. We’ll need to monitor the pullback closely for signs of more-than-minor weakness (i.e., abcd corrective patterns that exceed their ‘d’ targets), however, since the apex of the last rally fell a tad shy of the 84.57 peak it needed to have exceeded to reresh the bullish energy of the daily chart. _______ UPDATE (4:10 p.m. EDT): Today’s weakness spells more trouble, although not necessarily the U.S. dollar’s imminent demise. DXY will now fall to at least 80.66, or to 80.19 if any lower. Both numbers are Hidden Pivot supports, and if they don’t evince a discernible bouncem then look out below.
