The USD Index looks to have recently found a top at the 97.7 level for the previous complex correction.

If that is the case, then a new minimum three-wave bearish reversal may follow in upcoming sessions, and current drop can be labeled as wave 1.

Wave 1 is a motive wave, and must unfold five-waves to the downside before a temporary pullback labeled as wave 2 may show up. Support for wave 1 can be found near the 95.66 level.

USD Index, 4h

(Click on image to enlarge)