USD-INDEX Daily Forecast May 01 2014

The USD-INDEX  maintained a bearish momentum yesterday , printed resistance at the 98.00  levels .This development leaves the index targeting the 79.35  levels where a breach will turn focus on the 79.15  levels , further downside will aim the 78.80  levels.

On the upside , resistance comes at the 79.65 levels ahead of 80.00  (main), break of 80.00  levels on a daily basis would recapture the 80.33  levels , If this resistance is taken out , expect the pair to strengthen further towards the 80.75 levels , further upside will aim the 81.42  levels..

In all , as long as resistance 80.00  holds on a daily closing basis  , outlook in USD-INDEX   remains on the downside towards the 79.15/79.35  levels, break of 80.00  will reverse risks towards the 80.33/80.75  levels…


USD-INDEX Daily Forecast May 01 2014