DXY – NYBOT Dollar Index (Last:100.68)

Sellers crushed the 102.4o downside target featured here last week, so I’ve substituted a longer-term chart with a more significant target at 93.79. We’ll know better whether it is likely to be reached once we’ve seen how the midpoint support at 100.57 fares. It held precisely back in December, but I wouldn’t bet on it to hold this time. If DXY trades significantly below it (i.e., 99.50 or lower), however, or closes below it for two consecutive weekly bars, that would make further downside to p2=97.18 an odds-on bet.