USD Index made a nice-looking, three-wave drop from the 97.00 level which also looks to be part of a bearish impulse. We see a completed blue leg iii at 94.92 level from where a new sharp intra-day recovery began to unfold. This rise can be part of a minimum three-wave correction of wave four, which can look for resistance and a bearish reversal near the 95.73 level. That said a breach below the 94.23 level will confirm more weakness into sub-wave v of A, while a break above the 96.00 level will suggest a temporary low in place, as wave A.
USD index, 1h
