June 13, 2010

U.S. Dollar Finishes Week Lower; Reversal Top Likely to Pressure Greenback

The U.S. Dollar traded higher against most major currencies on Friday, but lower for the week. Technically, the Dollar Index posted a weekly closing price reversal top
which could lead to the start of a 2 to 3 week break if confirmed next week. The Dollar Index chart indicates there is room to retrace back to 84.92.

The EUR USD traded slightly lower after the four-day rally fell …