AndrewPollard

US Dollar Pullback looms

INDEX:DXY   U.S. Dollar Index
123 0 1
USD is moving below its 20MA and seems to be capped by temporary top near 95. Only a close below 93.50 confirms suspicion of pullback. A close above trend line resistance near low 95 levels confirms resumption of uptrend. Dovish sentiment from FOMC January minutes statement, IMF cutting global growth forecasts and noting that growth is unbalanced and fragile supports theory of USD pullback. Further supporting the possibility of USD pullback is the theory that USD is too strong for Fed to hike rates in June 2015.
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