USD Index turned sharply up from 92.50 at the end of August, clearly in five waves which means that dollar is back on bullish track. That said, current downward retracement should be temporary and corrective. On the 4h chart we are tracking a wave 2) pullback which is now approaching an important support area at 94.80-95.20 from where price can turn back into a new bullish impulse. At the same time we also see a head and shoulder pattern, currently with right shoulder near completion. In that case an upward continuation will be confirmed once neckline is broken around 94.80-95.20.