The rebound looks like a larger retracement
The dollar index trendline isn’t exactly a textbook, but combine it with the inverted head and shoulders and the short dollar position and there’s a compelling case that it’s more than rebound.
The question to ask now is therefore probably: how high will the dollar rebound?
Using this DXY chart (full disclosure: I’m not a DXY fan), the initial goal is 96.00.
The pace of the movement could certainly slow down, but the implication is that it is only half finished.