DXY Chart Technical Outlook

DXY Chart Technical Outlook (USD Index) technicals – Broken out of the ending wedge formation to the downside. The pattern has a measured move target of 103.83. The 78.6% pullback level is located at 103.84. We have a 261.8% extension level located at 103.86. The retest of the wedge formation can be seen as wave 2 in a bearish earlier wave count (5 waves). We are currently trading close to the 161.8% extension level of 104.56. There is ample scope for consolidation in the 4th wave going into the employment data

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