The DXY double top is testing the neckline.
The double top in the US Dollar index is testing the neckline which is very important support at the 97.00 level for a few reasons. First, it is the neckline and horizontal support. Second, it is the 38% retracement of the 2009 low to high. Lastly, a break of this level would mean a move below the long term trend line support and target well below the 96.00 level. This would create a lot of selling all the way down due to the important levels being breached, including the 200DMA.
Blake Morrow
