12th Dec - US Dollar Bulls Ready to Pause?
12 December 2014
MONTHLY CHART:
The US Dollar Index has reached
old 38.2% resistance where signs
are that this will prove to be a
temporary barrier to further
recovery. See below.
DAILY CHART:
On the Daily chart note how the
RSI indicator is showing a
negative divergence suggesting
that bulls are tiring. A drop
through support offered by the
86.746 03-Oct high would suggest
a deeper pullback was in
progress.
The EUR/USD and USD/CHF
charts are also showing RSI
divergences at present.
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