USD Index is unfolding a bearish turn, down from 97.52 area which we labelled as start of a new, bearish cycle. We can see a completed wave 1 impulse, followed by a temporary consolidation labelled as wave 2. This consolidation can look for resistance and a bearish turn near the Fibonacci ratio of 50.0 or 61.8, from where futher weakness may follow. A drop below the lower channel line will confirm a completed wave 2 correction and further bearish development, below the 96.02 area.
USD Index, 4h
