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19 Feb 2013
Forex: US Dollar Index in red around 80.50/55
The greenback, measured by the US Dollar Index, is trading in the defensive territory on Tuesday, trimming initial gains and printing fresh lows at the moment around the mid 80.00s
“The US dollar is showing resilience in the face of ongoing QE and end of the payroll tax holiday and the pending sequester. The Dollar Index, to illustrate the point, has now closed above the downtrend line going back to mid-November since the middle of last week. It intersects today near 80.30”, argued analyst Marc Chandler at Brown Brother Harriman.
As of writing, the index is losing 0.04% at 80.54
According to tradingcentral.com the next support levels line up at 80.45, 80.23 and 80.15; while resistances are located at 80.72, 80.85 and 81.00
“The US dollar is showing resilience in the face of ongoing QE and end of the payroll tax holiday and the pending sequester. The Dollar Index, to illustrate the point, has now closed above the downtrend line going back to mid-November since the middle of last week. It intersects today near 80.30”, argued analyst Marc Chandler at Brown Brother Harriman.
As of writing, the index is losing 0.04% at 80.54
According to tradingcentral.com the next support levels line up at 80.45, 80.23 and 80.15; while resistances are located at 80.72, 80.85 and 81.00