USD-INDEX Daily Forecast Mar 20 2014

The USD-INDEX maintained a bullish momentum yesterday , bottomed at the 79.47 levels and topped at the 80.23 levels . This development leaves the pair targeting the 80.50 levels , a halt is likely , but break of the 80.50 levels will turn focus on the 80.85 levels , further out will aim the 81.20 levels.

On the downside , main support comes at the 79.47 levels , stability above this level will keep pushing towards the 80.50 levels , losing the 79.47 levels on a daily closing basis would weaken the current bullish run , If seen , the pair is likely to retest the 79.25 levels , below this level will extend losses towards the 79.00 levels.

In all , as long as support 79.47 holds on a daily closing basis , the USD-INDEX will remain based to the upside towards the 80.50 levels ahead of the 80.85 levels , losing the 79.47 levels will reverse risks towards the 79.25/79.00 levels …

 

USD-INDEX Daily Forecast Mar 20 2014

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