Home » USD index » USD Index 23 Feb 2010

USD Index 23 Feb 2010

USD Index 23 Feb 2010

The dollar index chart remains delicately poised at 80.5 having finally broken above the minor resistance in this price region and with a break and hold above all four moving averages.  Yesterday’s price action was extremely muted given the total lack of fundamental news with the index closing as a very narrow spread candle perched on the 9 day moving average.  This morning’s price action has seen a similar picture unfold with the index holding steady above all four moving averages but once again balanced on the 9 day ma.  The short term issue remains Friday’s bearish engulfing

signal which may be validated in due course, but this could be negated by the potential support platform immediately below, and should this be the case then we can expect to see the index rally higher once again in the medium term.
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