The U.S. Dollar Index chart (PowerShares DB US Dollar Index Bullish (NYSE:UUP) closed higher again by 0.54 cents for the week at a new weekly closing high for the year. While this is very impressive the dollar failed to close above the $82.00 level. On many trading days it will trade above $82.00, however, it often sells off sharply to close below that important resistance level. As long as the U.S. Dollar Index remains above the $79.00 level the weekly bias is to the upside. The weekly resistance levels are $82.00, $83.00, and $84.00. The weekly support levels for the dollar are $80.00, $79.00, and $78.50. Knowing your key levels is critical to your success as a trader or investor - knowing how to use these levels properly will enable you to earn big profits out of the current market environment.
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