USD Near Key Micro Support
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The US Dollar Index (DXY) is close to the key micro 92.70 support level. A break below this opens the door to a larger degree decline that could take it in a 5-wave move down to the 89-89.50 level.
We have a bullish alternate 1 micro count that's been amended. A possible target for the next move down in the wave (ii) is the 92.48 - 92.20 region, but this scenario is looking much less likely at the moment.
In the EURUSD, if we see a move below 1.1899, a decline to 1.1683 looks quite plausible at this point.
.DXY - Alternate Micro - Sep-16 0904 AM (1 hour)
.DXY - Alternate 1 Micro - Sep-16 0903 AM (1 hour)
.DXY - Primary Micro - Sep-16 0904 AM (1 hour)
EUR= - Alternate 1 Micro - Sep-16 0909 AM (1 hour)
EUR= - Primary Micro - Sep-16 0907 AM (1 hour)
