Friday, June 3, 2011

Dollar Busts Through 74, Headed Back to Lows Near 73

Barkely's View of the USDX Action: Just Turrable!
We wrote this morning that the dollar was rolling over after the "just turrable" NFP numbers.  Its slide has continued throughout the session today, and how now broken down below 74.  Its pretty clear now that the dollar's technical bounce off of extremely oversold levels near 73 is now over, and the USDX is headed back for an imminent retest of the lows.  Again, if/when the dollar takes out the all-time lows near 72, look out below, the fits gonna finally hit the shan.
The NFP numbers aren't the only thing that look just turrable this morning.


-0.644%
VALUE: 73.864 USD

DOLLAR INDEX SPOT (DXY:IND)

 Snapshot
Summary One-Year Chart INTERACTIVE CHART
Value 73.86 One-Year Chart for DOLLAR INDEX SPOT (DXY:IND)