A failed attempt to scale resistance at 102.21 in the US dollar index at the European open has resulted in a turn lower. The decline was boosted by a more optimistic outlook from ECB President Draghi at the European central bank meeting today. Resistance at 102.21 marks the highest monthly close since 2002 and had triggered a turn lower in the index last week. The decline today has snapped a prior three consecutive day winning streak and can potentially result in a bearish engulfing candle on a daily chart.A confluence of support held the decline in DXY as a rising trendline from lows posted on February 27th and a ... (full story)