23rd May - US Dollar Index Nearing Long Term 76.4% Retracement
23 May 2013
WEEKLY CHART:
The Index has recovered sufficiently to erode the 84.100 Jul-12 high, and is now nearing the 84.930 76.4% retracement where we keep a lookout for next resistance.
DAILY CHART:
The current bull leg has now tested/eroded the 84.100 Jul-12 high. Beyond here next resistance comes from a bull channel top projection at 85.100 just now, not far from the long term 76.4% level. There should be a struggle to push through this.
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