The Dollar Index has bounced from the lower limit of a weekly sideways channel, notes Societe Generale. "The Index is forming a probable double bottom (identical to one seen last year). Thus 79.25/79 and more importantly 78.60 will continue to remain a key support," SocGen adds. "Short term, the index has taken support at the upper limit of a daily down sloping channel. With daily RSI bouncing from a trend line, the Dollar Index is set to inch higher towards 79.96 and probably even towards 80.58," SocGen projects. In USD/JPY, SocGen notes that it has been undergoing a prolonged consolidation since early February and ... (full story)