Dollar hit an interesting micro-low yesterday at 11:30 AM, getting close enough to a point it could bounce off of in order to resume its rise,
as I suggested might be necessary (77.60 was my thought). Probably got close enough for jazz-rock. So, a number of pieces are in place for the dollar to continue higher. The beginnings of a little handle formation are evident in the
RSI and USD itself, which, at this juncture, points us higher. Then, the MACD is showing that classic "uptick off the bottom" which provides impetus, and at this point, room to run to the upside. What causes the next (temporary, of course) USD pop? Subsidence of China issues/fears, re-emergence of Euro instability, heightening of (inadequately anticipated)
MENA fissures/implosions---all three? Look to 79.16, the "armpits" hit on the second and last weeks of December, as a convenient next achievable
"hut", where it can pick up some Snickers bars and decide what to do after.
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