Monday, June 10, 2013
US dollar index at resistance
US dollar index was going down for about a week and rallied sharply on Friday when NFP data was released. If you look at hourly chart you can clearly see that it has hit resistance and is kind of reversing now. For the time being the scenario remains bearish. However, this can change any moment if 10 700 level is broken upwards. Critical support level is at 10 520 level. If that holds and that is also very likely we are going to see double top pattern in US dollar index taken away and new highs made for 2013. The next couple days will be critical and define the direction of the security.
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