US Dollar Index still working on a lower top below 97.70 levels?

The US Dollar Index pushed higher above our expectations to terminate potential wave ii rally as presented here on the daily chart . The index is seen to be trading around 97.44 levels at this point in time expected to carve a lower top below 97.70 going forward. Looking into the wave structure, after producing an impulse rally between 88.30 and 97.00 levels earlier, the US Dollar Index is looking to carve an (A)-(B)-(C) corrective drop. It could be unfolding as an expanded flat or a triangle and we would bring up the probabilities as the waves unfold. For now, it looks like a lower degree wave i and ii could be ready (wave ii termination at 97.51), and a wave iii lower could resume soon. Ideally, prices should stay below 97.70 levels for the above counts to remain valid.


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