Dollar’s Monthly Mo Positive
04/02/2010 9:35 am EST
The monthly momentum on the dollar index turned up in December 2009 and is still rising. It did form a long-term positive divergence at the 2008 lows. The rally has reached the 50% retracement resistance from the 2009 highs with the 61.8% level at 84. There is long-term retracement and trend line resistance in the 88.50-90 area with an equality target using the rally off the 2008 lows in the 92.50 area. Key support is now at 79.60.