Dollar Index: Rallies, Pressure Builds On Key Resistance.
US Dollar Index: With continued rally seeing the Index strengthening and holding above its broken resistance, it remains biased to the upside towards its key resistance at the 81.78 level, its Jan 2012 high. A clearance of here will set the stage for more strength towards the 83.55 level, its Aug’2011 high and possibly higher targeting the 84.55 level. Its daily RSI is bullish and pointing higher supporting this view. On any pullback, the index will aim at the 80.73 level with a breach turning focus to its Feb 06’2012 low at 78.36 level followed by the 77.97 level and then the 76.71 level. All in all, the Index continues to retain its medium term upside bias.
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