Friday, December 18, 2009

US Dollar ($USD) -- Technical Note

The recent rally in the dollar continues on. The buck has come
up through its 10 and 25 day m/a's and both averages have turned
up to confirm the trend. MACD is positive and I like the ADX
reading which shows a positive turn and rising momentum. Chart.

However, do note that the dollar is now approaching overbought
levels on the RSI measure. I think that soon we'll see how sincere
this contra-seasonal move up in $USD is.

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