DXY Sharply Sells Off, Pivots

The US dollar sharply retraced after topping out at our target at 105.78. We noted the rounding off in the price action as we formed the top at that level, suggesting a retracement or some ranging was due. The DXY has been incredibly bullish and a retracement was due. We've smashed through levels in the 104's, establishing the 103's. We have found support just above 103.24, and sharply pivoted back to the 104's, finding resistance at 104.53, confirmed by red triangles on the KRI. Watch for continued resistance at 104.83, and support from 104.00 or 103.24.