DXY UPDATE

DXY finally seems ready to end its months long consolidation. After January we never felt like we really have to reconsider our BULLISH view here. 101 was a level which we strongly considered as a durable bottom. We finally got low at 100.79 this low we believe is a long term low holding which DXY in medium term could carry PRICE above 120. For short term 106 could be that level which would act as resistance, above 106 we should see fresh 52,weeks high which was at 114. We have been hearing on potential impact on $ if U.S. defaults on its debt obligations, few even claims that a U.S. default could crash $ and literally everything would end. We believe U.S. is not going to default, rest what happens, lets see.