A real time view of the U.S. dollar index by daily chart. Today the trend line support was just about hit. Lateral support resides at 94-95. RSI is not over sold, but it has dropped to and through levels where it bounced in the past. This is actually a negative on balance now that it is below 50 and is in a deeper correction than any since the rally started last spring and summer.
Here is a longer view that includes the rally’s beginning. Notice how the major trend line (as opposed to the short-term one above) intersects the lateral support cluster. That is what we’d call some nice confluence and I’d expect that pending interim bounces, Uncle Buck can make its way down there. But it remains bullish on a bigger picture.
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