US Dollar Index hits 95.00

The US Dollar Index has hit our first initial target at 95.00 levels as seen here. One could witness a corrective pullback from current levels, probably towards 95.40 or up to 95.80 levels, before the drop could resume and accelerate further. Looking at the wave structure, the US Dollar Index seems to have completed Waves A and B within the expected A-B-C drop lower towards 92.00 levels. At this point in time Wave C looks to be in progress and might have carved wave i at a lower degree. If this holds, wave ii of the lower degree could be underway anytime soon before the drop could resume and accelerate. Please note that prices should ideally stay below 96.16 levels going forward.


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