19th Sep - US Dollar Index Breaks Further Support
19 September 2013
WEEKLY CHART:
The Index’s recovery was resisted by the 76.4% retracement, which remains a key level.
Current weakness has seen a drop to 38.2% pullback area, which coincides with a support on the Daily chart. Back-up support is provided by the channel base projection at 79.300 currently.
DAILY CHART:
The rising support line has been clearly broken now, as has the 61.8% retracement. This implies that a more prolonged correction is underway but, s/term, we await reaction around the 80.050 76.4% level (also see Weekly chart).
At this stage a recovery through the 82.671 05-Sep high would give sidelined bulls some hope.
Next story:
26th Sep - Brent Crude Pulls Back to 38.2% Support 
Previous story:
19th Sep - Carbon Emissions Finally Overcome Key Resistance