USD index fell sharply during US elections two weeks back, but market quickly realized that Trumps victory may not be so bad for the US and dollar itself since he supports idea of higher interest rates. As such, market turned up as US elections results were coming out. We have seen a nice turn from 95.90, where rising trendline and 61.8% Fib. retracement turned out to be a very good support. We can see a strong recovery now, clearly in impulsive fashion which we believe belongs to a much bigger uptrend. In the short-term however, we can see a corrective set-back before market see 102.00/102.50 area.
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USD Index, 4H