Dollar index staged a notable rebound overnight to close at 92.88, comparing to this week’s low at 92.12. The fact that it’s quickly back inside prior range above 92.54 support is a sign of stabilization. Daily MACD also stays above signal like after this week’s spike low.
Yet, break of 93.99 resistance is needed to confirm short term bottoming. Otherwise, current fall from 102.99 is still in favor to extend lower. 161.8% projection of 100.55 to 95.71 from 97.80 at 89.96, which is close to 90 psychological support, could be the next target.
