US Dollar Index might be ready to push above 97.80

US Dollar Index has been drifting sideways after hitting 97.15 levels yesterday. Please note that index had hit the backside of past support trend line, which acts as resistance now. After spending the last 24 hours into sideways consolidation, US Dollar Index might be wanting to attempt another high around 97.20/30 now. A break above 97.36 would confirm that bulls are back in control, as they take out immediate resistance. Immediate support is seen towards 96.40, followed by 95.70 respectively. The potential wave counts are as follows: The rally from 95.70 through 97.40 is Wave 1, followed by Wave 2 around 95.40. If the above is correct, Wave 3 is underway towards at least 100.56, if not any further.

Remain long, stop @ 96.00, target @ 100.56 and higher.

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