usdollarindex

My last post showed the short-term dollar strength. When we look at a longer time frame, we see the real picture. From itʼs high in 2001, the dollar is down over 25%. In this regard, the recent 10% rally isnʼt so significant. The dollar is now facing six year overhead resistance at 90. The bottom of this six year period is roughly 75. Should price break up through the 90 level, a box target, measured from 75 to 90, could push the dollar index up to 105. This could be a tough move for the dollar to make as there will be overhead resistance the entire way up.

Lundy Hill

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