The buoyant dollar tone sees 119.75 barriers in play after broad buying interest saw 119.50 barriers give way earlier on in the session. A variety of names were involved in the move higher, reportedly executing interest on behalf of macro accounts and leverage names. A series of stops were trigged through 119.40 and behind the 119.50 barriers. Momentum name buying made an attempt to clear 119.75 barriers and stops behind but exporter offers and option account selling is capping gains.
Today's move beyond the 119.40 2006 peak leaves focus on the 120.00 handle. However, heavily overbought readings on the hourly and daily charts are a warning for intra-day players.
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