Forex: US Dollar Index flat, eyes on Bernanke

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FXstreet.com (Barcelona) - The US Dollar Index, which tracks the greenback against its major competitors, is trading directionless on Monday, ahead of Chief B.Bernanke speech due later.

David Solin, FX Analyst at FXA.com, comments, "… An eventual downside resolution to the multi-month triangle is favoured. However, such a move lower may be limited and part of a more major bottoming, and not the start of a more significant down move".

At the moment, the index is losing just 0.01% at 79.57
According to tradingcentral.com, the immediate support lies at 79.30, 79.15 and 79.00; while the resistance levels line up at 79.70, 79.85 and 80.10



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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