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US dollar breaks with S&P 500 on Fed policy outlook
The US Dollar pushed sharply higher despite a lack of support from risk appetite trends after the Fed signaled it may end QE faster than expected. US DOLLAR TECHNICAL ANALYSIS– Prices took out resistance at 10082, the 50% Fibonacci expansion. The bulls now target the 61.8% level at 10122, with a break above that that eyeing the 76.4% Fib at 10170. The 10082 level has been recast as near-term support. A reversal back below that exposes the 32.8%expansion at 10044. S&P 500 TECHNICAL ANALYSIS – Prices launched sharply higher in the aftermath of a deal to avert the fiscal cliff, taking out a falling trend line set ... (full story)