The US Dollar index is pulling back in a corrective pattern as we expected two days ago. Despite yesterday's bounce towards 97,80, we saw a rejection at the 61.8% retracement of the latest decline. Now, we see new lows below 97.10 towards cloud support.
The US Dollar Index remains inside the medium-term bullish channel and is now testing Ichimoku cloud support as shown in my 4-hour chart. Support is found at 96.80 while resistance is at 97.60 by the kijun-sen (yellow indicator) and at 97.80 the recent high.