Forex Analysis : USD Index
With major trend support at 76.2-76.3, the USD Index closed on a near term breakdown point on Friday, and much like gold could go either way this early in the week.
• The USD Index may test 76.2 or so, but this support really should hold, and form the base for a rebound in the beleaguered dollar.
• There is initial support at 76.66 or so, with first resistance at 77.
• A flight to safety does not mean buying the US Dollar anymore – that would probably need an Armageddon scenario given the debasing effects of printing several large forests worth of pulp in to dollar bills every few days.