US Dollar Index heads back near 84 as investors seek safer haven currencies

The US Dollar Index received a boost yesterday in trading and opens today back near the 84 mark as investors once again seek out safer haven currencies as problems for the euro zone continue.

Latest Dollar Index Rate

The US Dollar Index is currently trading at 83.895, a fresh two year high. Europe’s euro conversely made a fresh two year low of $1.2067 before rebound from midday London to $1.2145.

C.Tuxen, Senior Analyst at Danske Bank, comments that “The moving average configuration and momentum studies continue to confirm the positive channel and bullish structure and a break above resistance at 83.82 will extend the rise to 84.92…”

The expert thus recommends “…stay long or buy on dips for 84.929 and possibly 85.735; suggest placing a stop under 82.082…”

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US Dollar Index heads back near 84 as investors seek safer haven currencies