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10/13/09

The US dollar index chart: the fight to hold 76

It's the whole waxball right now. Make sure it's front'n'centre on your trading screen, too.

The USD got as low as 75.76 this morning (I think) but has crawled back over 76 again. The above chart is the December futures variety, 15 min bars, cos it's a better way of gauging (the futs run more volume).

Will 76 hold? Will the greenback laugh in the face of its naysayers and refuse to die? Will it snap down to the next clear resistance point of 72? Time will tell.........