The Federal Reserve comments made the US dollar stronger. The US data and the job market look pretty strong adding fuel to the USD index to breach above $85. The weekly job claims climbed to 12k that is very optimistic data for the Fed to hike interest rates sooner than anticipated. We have been recommending to buy the USD index from 80.45 levels for upside targets at 84.50 and 90. The first target is successfully completed and now we are waiting for 88 and 90 levels. It took 3 months to complete the first target, please refer to June 29, 2014 for our previous article.
Support 84.80 84.20 83.80
In case of a daily close below 84.20 only, the weekly trend turns to negative.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Review of USDX for September 26, 2014 . Thanks for your support.
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