USD Breakout Test Pulls Back to Fibonacci SupportU.S. Dollar Currency IndexTVC:DXYFOREXcomThe ascending triangle breakout in the USD hit hard at the March open, and that ran up to a fresh high. At yesterday's FOMC meeting, Powell leaned somewhat hawkish against what I think many were expecting, and he even broached the topic that some at the bank were asking whether the next move might actually be a hike rather than a cut. Nonetheless, the currency is down on net since that rate decision but I think the reason why boils back to a familiar driver of the Japanese Yen, which has reversed quickly after stalling just shy of the 160.00 handle. In DXY, however, the question now is whether bulls show up to support the pullback and, bigger picture, there's another ascending triangle formation at play with the horizontal resistance combined with the pattern of higher-lows that's posted over the past month-and-a-half. - js