AdrianRaymondFX

DJ-FXCM US Dollar Index key reversal

FX:USDOLLAR   Dow Jones FXCM Dollar Index
The USDOLLAR             is looking pretty bullish this afternoon (morning still in the US) after the inflation and manufacturing sector data published earlier today. Technicals seemed to suggest a risk of further declines in the US dollar             against currencies like the euro             , the yen and the Australian dollar             . But the support seen here (11,880 points) clearly is holding with the establishment of a bullish trendline at the daily lows. If durable orders data beat expectations tomorrow, we may very well see a return of USD strength going into the month's end. Watch for support with the 30-day EMA for support at 11,927 points as well as the trend line around 11,890 points.
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