Dollar’s Uptrend Intact

04/23/2010 9:20 am EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

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The dollar index dropped back to test support in the 80 area last week, but has once again turned higher. The 50% retracement resistance in the 82 area is still limiting the upside with the 61.8% resistance at 84. The weekly OBV did confirm the recent highs, but then dropped back below its WMA to test stronger support. A move in the OBV back above its WMA would be a positive sign. There is important support for the June contract in the 79.75-80.15 area.

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