The Dollar Index has been weak for a couple days, but there is a possibility of a bounce as a head and shoulders type formation could be carved out.

Note the dollar index broke out out of longer term resistance

 

If this pair doesn’t keep shooting straight up, I think there is  30 to  100 pips of downside potential even if it moves up afterwards. About 100 pips lower than the current price is a middle band (20 period Moving Average) on the weekly chart

What do you think?

 

The hourly chart and 1 minute charts are shown. Once the price started ranging there was a move from the top Bollinger Band to the bottom band