The US dollar index ($DXY) followed through on the bullish spike reversal it posted during January, indicating its major (long-term) trend had turned up. Recall this technical pattern was in conjunction with a bullish crossover by monthly stochastics below the oversold level of 20%. Initial resistance is up at the 4month high of 94.30, with the $DXY unlikely to challenge this mark during March. However, the secondary (intermediate-term) trend is also up meaning Wave 1 of the new 5-wave uptrend could extend through March before moving into a Wave 2 selloff. Initial secondary resistance is at the 4-week high of 91.60, compared to last week’s close of 90.92. Key long-term support continues to be the January low of 89.20.