02/10 - Risk Aversion reinvigorates the Greenback

The US Dollar Index has reversed recent losses including a brief loss of 20-day MA support due to a fresh bout of risk aversion. The uncertainty and lack of specifics by Treasury Secretary Geithner's bank bailout plan has spoiled the market's appetite for risk, once again buoying the US Dollar and Treasury prices. Also, rumors of Russian debt postponement has cast a shadow on the Euro. If 86.200 (pivot & pennant resistancce) can now be convincingly cleared, a move towards the 88 handle cannot be ruled out. A sustained loss of the 20-day MA is now needed to refocus the 50-day MA.

[STRATEGY] TOOK PROFIT ON LONG POSITION, LOOK TO SELL EUR/USD (email for entry/exit points)

For my latest Forexpros.com analysis.....

http://www.forexpros.com/technical/analysis/nzd%20usd:-loses-ascending-trendline-support-18116