U.S Dollar Index Targeting 100 Area in Risk-On Environment

U.S Dollar Index Targeting 100 Area in Risk-On Environment

 
NZD/USD
+0.28%
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DX
-0.17%

US Dollar Index is down sharply as US yield declined following US CPI data yesterday when numbers came out down big, to 3% from 4%. Interestingly, cryptos are not attractive at this stage, while NZDUSD is one of the strongest, and its been doing well already week back when others were in a pullback mode.

Looking at the current strong risk-on environment, I think the USD can be headed even lower. As such, I adjusted the wave count as this can still be an ongoing extended impulse targeting 100 area, which can become some temporary support for the fourth wave rally.






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