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TFC Commodity Trading Forum

U.S.$ Index/ At Important Resistance *PIC*

DX has finally reached important resistance being the late Nov/10 and Jan/11 highs at 81.50. This is just a tad above the Fib 50% retracement level of the June/10 high to May/11 low. Important test of resistance here right now as DX price direction is inverse most other markets. While this is strong resistance January is seasonally the strongest month of the year for DX historically. With the Euro up the creek without a paddle a breakout over 81.50 that holds would be bearish inverse markets. Important test right here. Price would need to clear and hold above 81.50 to confirm a breakout.