The daily dollar chart is bearish.
1.) The 50 and 200-day EMAs are moving lower.
2.) The 50 day EMA is below the 200-day EMA. The shorter EMA will pull the longer EMA lower.
3.) Prices sold off 6 times since December 2015.
4.) Prices have been in a "lower low, lower high" pattern since December 2015.
The weekly chart is also bearish:
Prices are right at long-term technical support around the 93 level. There is plenty of technical real estate between 93 and the previous ~85.
There is no current reason to think the dollar will meaningfully rally. Instead, expect technical counter-rallies. And Friday's employment report placed the Fed on the sidelines for at least the next meeting.
