U.S. Dollar Index Future ( DX1! ), H1 Potential for Bearish Drop

Type : Bearish Continuation
Resistance : 103.265
Pivot: 102.380
Support : 101.985

Preferred Case: With price moving below the ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 101.985 in line with the 100% fibonacci projection from our pivot at 102.380 in line with the horizontal overlap resistance and 61.8% fibonacci retracement.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the overlap resistance, -27.20% fibonacci expansion and 50% Fibonacci retracement.


Fundamentals: In the face of strong inflation, Bostic emphasized that two 50-bps raises at forthcoming Fed meetings are still realistic. We have a Mixed-to-Weak Bearish view on the index.