The US Dollar Index retested key support just below the 76 handle. While this pivot managed to support once again, time is running out for the Greenback. A positive daily close is required for Friday to round-up daily MACD and complete bullish divergence. The next level of support is in the 76.50 region, where projected falling wedge trendline & a Fibonacci projection reside. The EUR/USD surpassed the 78.6% Fibonacci retracement at 1.4768, but failed to retest the yearly high. Beyond 1.4847 (2009 high) is 1.4914, where projected rising wedge resistance & a weekly pivot lie. Meanwhile, spot Gold continues to extend to record highs. While daily RSI is at extreme overbought conditions (80), there is no divergence yet. Thus, dips should be accumulated until daily studies display bearish divergence.
