Thursday, December 24, 2009

Dollar’s Rally May Halt at Moving Average: Technical Analysis

(Bloomberg) -- The dollar’s 4.6 percent rally this month versus the euro may end after the U.S. currency approached its 200-day moving average, according to Citigroup Inc. The greenback declined 0.7 percent to $1.4343 today after appreciating yesterday to $1.4218, the strongest since Sept. 4. That level was within a quarter-cent of its 200-day moving average of $1.4198. The last time the dollar was stronger than the average was in mid-May. The greenback lost 13 percent from the beginning of that month to this year’s weakest level of $1.5144 reached in November.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=atfND3DARwjA

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