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US Dollar Testing Resistance

The US Dollar index has made a nice comeback after its free-fall from late November to mid December.  The Dollar is up 6.76% from its low on December 17th, but as shown in the chart below, it is bumping up against key resistance at its 50-day moving average.  If the Dollar is able to break above its 50-day, a resumption of its multi-month uptrend will be solidified.  If it fails to break through, however, the current level will be one peak of a newly formed downtrend.

Usdollar114 

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January 14, 2009 at 08:54 AM in Currencies |

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