Forex Flash: Dollar Index looks technically constructive – BBH

By FXstreet.com | February 11, 2013 AAA

FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that although the Dollar-Index (DXY) failed to make a new high before the weekend, holding just below the high set on Thursday near 80.28, the settlement was near the high of the day and the technical tone remains constructive.



He feels that the key area to watch is near 80.50 as it corresponds to where the downtrend line drawn off the mid-Nov high near 81.50 and the Jan 4 high just below 80.90. He finishes by writing, "It also corresponds to a retracement objective of the losses from that mid-Nov high."



Related Forex Analysis
  1. US Dollar Technical Analysis: Prices Drop Most in 3 Weeks
    Forex News

    US Dollar Technical Analysis: Prices Drop Most in 3 Weeks

  2. ECB may become compelled for a more radical approach - Rabobank
    Forex News

    ECB may become compelled for a more radical approach - Rabobank

  3. GBP/USD bulls stalled at 1.58 so far - FXStreet
    Forex News

    GBP/USD bulls stalled at 1.58 so far - FXStreet

  4. EUR/USD Technical Analysis: 8-Week Down Trend Challenged
    Forex News

    EUR/USD Technical Analysis: 8-Week Down Trend Challenged

  5. USD/JPY Technical Analysis: Support Now Below 117.00
    Forex News

    USD/JPY Technical Analysis: Support Now Below 117.00

Trading Center