18th May - US Dollar Index Contemplates New 2012 High
18 May 2012
WEEKLY CHART:
After a modest correction/ consolidation this year latest activity has seen renewed strength. The next upside focus is on the 82.590 61.8% recovery level.
DAILY CHART:
The Index has continued its recovery, after nearing key support from the channel base and 38.2% retracement area. The 81.784 Jan high is now under scrutiny.
Beyond here note resistance offered higher up by the bull channel top around 84.45.
Reversal back through the 78.603 01-May low would be the first negative sign.
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