USD INDEX – bullish after fed taperd QE


The usdindex maintained a strong bullish momentum yesterday. Printed support at 79.65 levels. This strong move happened in conjunction with fed tapered QE. This development leaves the pair targeting the 80.93 levels where a breach is very likely If seen It would target 81.30 next, further out will aim the 81.70 levels.

On the downside, the pair may consolidate below 80.66 before the next rise. Support levels are 80.40 ahead of 80.15, losing the last one may weaken the current bullish run. But overall outlook will remain strongly bullish with risk towards 80.93 ahead of 81.30 as long as 79.65 holds.

Note that stability above the key resistance 80.66 should accelerate the expected bullish move.


USD INDEX - bullish after fed taperd QE




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