The moves higher should be back testing the Black trend-lines, as what was once support should now become resistance.
There is a reasonable LT USD Bull count which highly depends on USD 70.80 holding as Critical Support. This Bullish Count, which I do not favor at this time, can be found at Daneric's EW blog Here: http://danericselliottwaves.blogspot.com
The last USD MT update in May suggested that the index was likely to move in choppy, corrective, sideways to upward structure as wave {2}:
So far the projection is fairly in line with my previous projection. Only two more 3 wave moves are needed to finish the idealized structure depicted:
This ED should be finished before the end of August. If USD falls below 74.13 KS, then the pattern fails to the downside, Wave {3} down could start earlier than expected. A push above the orange trend-line and 78.00 will likely place this whole wave {2} concept in jeopardy.
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