US Dollar Index breaks above 91.05

US Dollar Index has come back very strong after reversing from 89.70 mark over the last week, surprising many a traders. It has also managed to take out interim resistance at 91.05 levels today, hence potential remains for a corrective drop lower towards 90.00/20 mark, before resuming higher again. Wave structure reveals that Waves 1 and 2 might be in place around 90.95 and 89.70 respectively. If correct, Wave 3 might be underway towards 94.50 and higher from here. If correct, the index should stay above 89.70 going forward.

Remain long against 89.20, towards 94.50 and higher.