The 96.36 downside target we’ve been using remains viable. The current, countertrend move would need to surpass the ‘external’ peak at 100.54 recorded on May 29 to imply the long-term downtrend may be about to change. Even then, that would generate a ‘mechanical’ sell signal that we would likely ignore. More immediately, anything above 99.39 early in the week would be a faintly bullish sign.
$DXY – NYBOT Dollar Index (Last:98.77)
