Dollar Surges as Stocks Fall

02/17/2009 2:13 pm EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst


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.

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