Where is the dollar headed?
Dollar index saw a large pull back on the price action since catching a bid off of the FOMC and peaking off at 97.40 handle. As of now, we have pulled back into the fib level at 96.20 and trading sentiment is very much on the heals of incoming data. As of now, downside levels to the dollar indexes would be at 96.20 and the POC zone at roughly around 96*. Upside ranges would include the 38% and 50% fib levels. Watch out for ISM data being released this morning for directional trading sentiment.
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