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Dollar index (USDX) finds its feet
The noted fall in the Dollar index (USDX) yesterday saw it take out a previous low set on Monday, when it crumbled to 107.91. As reported, the fall through that level yesterday corresponded with a break above 1.0437 in the EUR/USD and resulted a Dollar index low at 107.74. However, as you can see this morning, the inverse move in the EUR/USD since yesterday afternoon has allowed the Index to rebound since and pushed it back to a high so far, at 108.36. That recovery is far from conclusive at this stage though. Looking at the daily chart on this one, we can see the price action is firmly in between the 21 and 50 day moving averages. The 21 day is right now at 108.78 and the 50 day is currently at 107.59. The index is currently trading at 108.26
Market News
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