USD Index is on the rise, now trading at a new high which puts some bullish pressure on USDJPY and bearish on EURUSD, while Cable, Aussie and New Zealand dollar are doing quite well at the moment. From a technical perspective, we see USD Index in a new impulsive bullish trend which is expected to continue higher, but corrections will occur. Currently we see the index in the late stages of an extended blue wave three which can see a temporary top near 101.50/60 area from where a new short-term pullback may show up. Same thing is for EURUSD, where an updated count shows the price in red wave v) of three, so some support can be seen in the near-term close to 1.0500.
USD Index, 1h
EURUSD, 1h
