U.S. Dollar Index - Outlook For Jan 10 - Jan 14

U.S. Dollar Index closed at 81.13 on Friday. This is just shy off Nov 30th high of 81.44. Last time U.S. Dollar Index fell from that level to as low as 79 on Dec 3rd, 2010.

Technically, it's a short term resistance.

Next week will be very interesting to see if it can break above that level. If it does then we expect U.S. dollar index to go as high as 83.55 which is August 24th high and can act as a very strong resistance.
RSI is not at overbought level. So, there are possibility to move further up in coming week.

Last week, we got mixed economic data came out of U.S. Next week, we will be watching mainly Fed's Beige Book Economic release which is due on Jan 12th and also U.S. retail sales. These two report will give pretty good idea of current U.S. economic outlook and will move dollar accordingly.

See the USD Index chart below.

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