D level stands at 121,95 or approx 122. Previous monthly close
and also previous weekly close suggest further gains. The top
from 2007 stands at 124, and looks like a reasonable target from
here, also since the USDOLLAR index has passed through important
resistance on along with important Breakouts
using the indicator on higher timeframe in UsdCad , UsdChf and
AudUsd . Typically, there should be a sell off at a D level to give more
chances for the level to hold. That has not been seen yet, thus I prefer the
idea of a test of 124. But should a strong weekly candle be
forming around 122 this could be the start of a deeper correction.
The technical target of this stands at 111.