Friday, March 16, 2012

US Dollar Update

US Dollar apprears to be in a short term breakout pattern which has a current target around the 82.50 level. I believe this breakout should carry the USD to at least the 85-87 level in the near future.

Long term trend remains downward and if strong resistance is found going forward at the 85-87 level I believe a drop proceeding could very well take the USD below the 72 level.