USD-INDEX Daily Forecast Mar 04 2014

The USD-INDEX continued its losses last Friday, topped at the 80.32 levels and bottomed at the 79.68 levels.This development leaves the index targeting the 79.20 levels, a halt is suggested, but losing the 79.20 levels will turn the focus on the 78.55 levels, more losses will aim the 77.90 levels.

On the upside, a failure to hold below the 79.68 levels could mean a return to the 80.32 levels, a halt is likely, but If 80.32 is taken out, a short-term bottom will be confirmed, If seen, next resistance will be the 80.73 levels, a break will recapture the 81.50 levels.

In all, as long as resistance 80.32 holds on a daily basis, the USD-INDEX will remain based on the downside towards the 79.20 levels ahead of the 78.55 levels, break of 80.32 will reverse risks towards the 80.75/81.50 levels.


USD-INDEX Daily Forecast Mar 04 2014