For the past 2 weeks or so, we are seeing the US Dollar Index moving in a trading range, which also defines its current support and resistance level.
The COT Report released last Fri points to a slightly lower Total Open Interest and a slight unwinding of the shorts of the Net Commercial Sentiments.
The trading range seems to be a consolidation after the recent rally after the bull flag in Jan 2010.
Lastly, it is noted that the upward trend of USDX seems to be strong as it is yet to be violated.
