Dollar Index Getting It Together Again

From the more 'recent' highs in the dollar index  back in June of last year, down to the following lows in December of last year, the dollar rallied back 50% and in January of this year found resistance…which also coincided with the 200 day moving average.  Given the technical pattern we predicted a downside price target near $72, which was pretty much reached in May.

Now the dollar looks to try the 50 day moving average (yellow line) from below, which historically has been respected.  A solid move above 75 on a closing basis may lead to further upside.

 

 

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