Bull Wedge Forming in the DXY

The DXY has pulled back from the double top we identified at 97.89. We have seen strong resistance at this level confirmed by red triangles on the KRI. However, we are not seeing a rejection from these highs and appear to be seeing a bull wedge forming. The Euro has fallen to lows last seen in 2016 against the AUD and GBP, which has contributed to the DXY's strength. If we are able to break out then 98.22 is the next target. If we retrace, we should have support from 97.32, but if not there is a vacuum zone to 97.03, then another one to 96.65.