Last week we noted that the US Dollar Index needed to move up through the 80.40 high to change from printing lower highs and lower lows to printing a higher high. This 4-hour chart does show that this market was able to move up through that previous high. While this does not serve as confirmation of a trend change for the USD from down to up, this changes do need to start with moves like this. The next high is to watch is the 81.44 level. A move up through that high makes a stronger case for a stronger USD. We might not see that until after the holidays, but it is something to watch for in the meantime.
