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USD Index Daily Chart – 10th February 2010

USD index daily chart 10th feb 2010

USD Index - Daily Chart Anlaysis For 10th February 2010

The dollar index continues to trend higher, and despite yesterday’s modest fall, still remains firmly established above all three moving averages, and perhaps more importantly now well clear of the 200 day average which has now been crossed by the 40 day. Whilst the candle closed lower on the day with as a relatively wide spread down bar, the low of the day found some solid support from the 9 day moving average, always an encouraging signal, suggesting that the bullish tone for the index remains firmly in place as we approach the key level at 80.50 where deep potential resistance now awaits on the daily chart. For the upwards momentum to continue we need to see this region breached with a consequent break and hold above the 82.50 price point, and should this occur in due course, then we can expect to see the dollar index continue to rise with a consequent strengthening in the US dollar against all the major currency pairs.

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