The Dollar Turns Higher
08/19/2010 2:41 pm EST
The September dollar index pulled back to short-term support at 82, and with today’s positive close, it looks ready to resume the recent rally. The volume on the rally from the August lows was strong, supporting the bullish case, and volume also picked up today. The OBV is back above its WMA, also consistent with higher prices. The first target is the 38.2% resistance at 83.60 with the 50% resistance level at 84.70.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.