US Dollar Index forecast: 2014, July 13 - 20

The US Dollar Index initially tried to fall during most of the week, but found the 80 handle to be supportive enough to turn things back around and form a hammer for the second week in a row. Because of this, we believe that the 80 level is going to continue to be supportive, but we also see a significant amount of resistance at the 81 handle. With that in mind, we don’t necessarily see long-term traded to we break to the upside and above the 81.50 handle, which would have this market looking for 84.50 or so over the longer term.