Dollar Surges as Stocks Fall
02/17/2009 2:13 pm EST
The sharp decline in the overseas markets, and then in the US stock markets, have coincided with a sharp rally in the dollar. As the chart shows, the EUR/USD has broken through trend line support in the 1.2700 area. There is next support at last fall's lows in the 1.2330 area, with resistance now strong in the 1.27-1.2800 area.