Thursday, March 3, 2011

US Dollar Index (DX) is nearing a crucial Support level at 76.50

Chart by

The 2-year EZ-US bond spread is favoring the EURUSD appreciation and a decisive close above 1.39 would most likely bring acceleration to the present trend.

US Dollar Index (DX) is trading near crucial long term support trendline which comes around 76.50. A break below opens the avalanche scenario of major slide in the USD while the FED is reluctant to hike rates and the ECB is starting to relay hawking signs.

The make-or-break level should be 74 where the present weakness would most likely accelerate to the 2008 lows.


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