USD INDEX: Back At June Levels Having Dropped Under Key Support

Support at 84.40 gave way and lows of 83.71 indicated. The bear pressure was increased last session with another good support point at 83.70 giving way. The index is now back at levels not seen since June this year and is targeting the 83.60 low from the week ending June 21. Below this point a gap opens up to 81.30 (March 2005 lows), which could translate into a Cable level in the 1.95-1.96's. On the pullback the 84.40 level will now provide a ceiling.