USD is in what could be a little bear flag forming after the breakdown. A bear flag could rise to test the breakdown resistance, but more likely could fail to test the minor support level at 99 before an upside resistance test takes place. Here’s the daily chart showing that situation.
The weekly chart shows the first breakdown objective at the 62% Fib retrace level, which coincides with 99. If this is the anti-USD trade I think it could be, a bounce from there, which could test the support breakdown at and just above 100, would be ill-fated but could cause some damage to asset prices during such a bounce.
Meanwhile, the breakdown objectives are 96 (+/-) and 93 (+/-). If either of those prove to be good targets, there could be good to excellent upside in the anti-USD trades, especially in commodities, and including gold and silver.
