Dollar Index: Recovering But Vulnerable Short Term

[FXTechstrategy Team]

US Dollar Index: While the Index may be attempting to recover higher, it continues to hold on to its broader short term downside bias triggered from the 84.10 level. As long as it trades and holds below the 80.96 level, a retarget of the 78.53 level is likely to occur. A violation of this level will call for a run at its psycho level at 76.00 level. Alternatively, on continued corrective recovery, the Index will target the 79.82 level where a breach will call for a move lower towards the 80.49 level. Further out, resistance resides at the 81.18 level with a break below here allowing for more upside towards the 82.72 level. All in all, the Index continues to look vulnerable short term though facing a recovery threat