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Dollar index (USDX) rise stalls so far today
Yesterday afternoon the surge in the dollar saw the USD index (USDX) further extend its gains and break above a noted resistance level, at 104.31. That saw the index rise to a session high right on the 4pm London FX fix. The index lifted to its highest level of the year when peaking then at 104.60. It has come off that high since, after closing in the US last night at 104.47. The index has dropped back to test that 104.31 level to the pip so far this morning. It remains to be seen if that price point will continue to cap the downside today and it could be acting as a support level now. The drop back in the dollar has allowed the seen the EUR/USD creep back above 1.0750 this morning, but more on that pair in an update to follow later. The USD index is currently trading at around 104.33
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