US Dollar Index DXY broke it 200 DMA (daily moving average) and a major trend line that been acting as support. This is the first time the DXY trade below it 200 DMA since the break above it back in May 2018. This now may give bears more confidence to keep pushing down to complete the AB=CD harmonic pattern with the D leg completion at 97,75. My take is to keep selling rallies until the AB=CD completion to then expect a short term correction higher.
The 4H TF we see the structure in more details where the 97,75 is the area for the possible completion of the equal measured move. Below that support we can see another possible market objective where the 1,618 extension and the structure support of the 95,15 area.
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