USDX 4 HOUR CHART – Back on the defensive
It doesn’t take a rocket scientist to take one look at this USDX chart and assume EURUSD (57.6% of the dollar index) has moved higher.
This follows a failure to test 1.02 but would need to break 100.50 to suggest the EURUSD rebound has serious legs to it.
Key to this index and other markets will be the reaction to the US jobs report tomorrow.