Home » USD index » USD Index Daily Chart 19 August 2009

USD Index Daily Chart 19 August 2009

USD Index 19 August 2009

USD Index 19 August 2009

Once again on the daily USD Index Chart today’s candle found strong resistance from the 40 day moving average which prevented any attempt by the Index to rise and closed the trading session with another dismal day for the poor old US Dollar whose only hope for redemption now seems to rest with the 77.50 minor support level.  With today’s prices having breached both the 9 and 14 day moving averages we are now now below all three which does not bode well for dollar bulls in the short term.  As I have said many times in previous market commentaries, until we see a break and hold above the 81 price point then the systemic Dollar weakness seems likely to continue for the foreseeable future and certainly from a technical perspective there are no chart signals to suggest that this is going to happen any time soon.

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