Tuesday, March 22, 2011

A Rather Unequivocal Break of Longterm Support (DXY Weekly Chart)

The USD has been back in the news on unparalleled weakness, new generational lows, etc.  And importantly, breaking longterm support.  As illustrated below, this break is solidly below the line of support going back to early '08, and any pullback and strength should be expected to hit the wall at the former support, which will become resistance.  Watching and Learning.

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