I was expecting that USD may face little corrections and it reversed it position after 61.8% retracement considering its previous low of 80.89.
USD is in short-term over-sold zone and now it is ready to prove its pattern, provided it crosses the 83.50–84 level which it failed to do in last week. There after considering its past movements, USD may face the major resistance at 86 level on its journey towards 89–90 level, to prove its positive pattern which I talked during past weeks.
Virtually throughout the last month USD faced the up moves and considering its short-term over-sold position it does not look like that USD will drop more from here. But incase if it fails to cross 83.50–84 level in early to middle days of the coming week and drops below 82 level then there is a chance that USD may make a very short-term bearish pattern which can take it towards its good support at around 80.50 level (which is close to 61.80% retracement level from its 1st May low).
In technical language, USD will not react with that pattern if it drops below 72.696 but that is beyond our imagination for now.
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