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US Dollar Index – 16th March 2009

US Dollar Index - 16th March 2009

US Dollar Index - 16th March 2009

As suggested in Friday’s post last week, the US Dollar index is falling again in trading this morning, with a wide spread down candle which has now penetrated the 40 day moving average, adding further to the bearish tone in the index. It will be interesting to see what effect the support level at 86 has on the fall, and whether it provides a temporary halt, or longer term support for a reversal in due course. If this region is penetrated then expect a fall further possibly as low as 83.50 0r lower. As always the Dollar Index provides an execellent guide to our currency options trading strategies, and should always be the starting point for any technical analysis. The latest currency news is now available in the TV video channel, along with the live currency charts, and the latest live news, which also includes an economic calendar which is updated in real time.