• The D1 dollar index chart below shows the USDX has once again hit trend line support at the 79.13 area.  Fridays candle has closed at the lower end of the range and a sustained move below 79.13 may see a bearish breakout.
  • Initial downside areas of note include the 3/4/2012 78.66 daily low.This is closely aligned with the 150 EMA level.
  • Any failure to sustain a move below Fridays low could find the dollar index in consolidation mode and potentially moving to the upside.  79.64 has seen price pivot support and resistance and may do so again.  Further to this is the 80.00 round number which has also given resistance on multiple recent occasions.
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