USD Index Already Moving Lower; 97.75 Represents Bearish Level - Elliott Wave analysis

Hello traders,

If EURUSD finished a five-wave rise from the lows, then USD Index may have also completed five waves of decline from the highs, which means that we should be aware of very weak USD in case if that wave iii occurs. That said, if USD Index starts breaking beneath channel support line and 97.75, then price could be very bearish.

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USD Index, 1h

usd index, 1h