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US Dollar Index – 19th March 2009

US Dollar Index - Daily Candle Chart 19th March 2009

US Dollar Index - Daily Candle Chart 19th March 2009

The US dollar index continued its very bearish tone this morning, following on the mood for the US dollar as a result of the FED announcement yesterday evening, leaving the index with wide spread down bar which penetrated the support level at 84.35. In early trading today, the dollar index is down further and if the current trend continues then we could see a re-test of the 78.50 region which was last seen in mid December 2008. This trend now seems to be forming a significant waterfall on the daily candle chart, and for this bearish momentum to be reversed we will need to see significant signals in the daily or weekly dollar index chart.