Forex Analysis : US Dollar Index
Giving up the ghost during the New York session on Friday, the USD Index looks set to retest the recent low at 75.250
• Bernanke’s dead-cat dollar had difficulty moving beyond 76.70, and closed the week at 75.86. The bearish trend looks set to extend, and with it the dollar should retest key support at 75.25.
• If broken, the next target is at 74.70. However, if the support at 75.250 holds and a double bottom is confirmed, then the dollar may rebound and close the week nearer 77.00.