USD Index : Dead cat bounce time.
March 9, 2011 Leave a comment
The USD Index has rebounded a bit off its early week lows, but needs to hold above 77 to give any chance of a more significant technical rebound to 77.50, possibly 77.80.
There are signs of the beginnings of a reversal in many USD crosses, best seen in Asia on the Singapore Dollar or Yen charts.
A failure to pass 77 this week will however be very bearish for the much unloved USD, with time yet for it to trade down to 75 or so.