Forex Flash: Dollar Index peaked on March 14th - BBH

FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that the Dollar Index actually peaked on March 14, days before Cyprus erupted, and recovered but not enough to make a new high last week.

He writes, “Just before the weekend, it briefly dipped below the 20-day average for the first time since early February. Initial support is seen near 82.00, but if our reading of the technical condition is correct, there is potential toward 81.50 and maybe even 81.00, if the correction gains momentum.”