The US dollar is tittering on the edges a really ugly technical formation. This time the round number of .8000 is not critical rather it is meaningless. An approach to .8000 only means that .7200 and the old lows are coming into play.
Jim
I would add to watch the force behind the head and shoulders (or 1-2-3) setup. Decaying trend energy during the right shoulder setup would reflect classic distribution action. The upward sloping REV(E) neckline reflects the strength of the rally. Often the REV(E) neckline breaks first during heavy distribution. This would target the 2009 lows, and as suggested above by Jim, bring 72 into play.
U.S. Dollar Index ETF:
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