6.24.2012 USDx Top Down

USDx usually makes an intermediate high around the middle of June and trades down with a small retracement happening near the end of June in to July.  Price then will show weakness for the next quarter usually making the yearly low around the beginning of August.

Price traded up to 83.31 resistance level drawn off the weekly chart and bounced trading down to 81.18.  Last week price trades up to the 50 fib level.  62% retracement is at 82.68, OTE 82.89, and 79% is 83.10.

Market structure was broken when the 6.18 swing high was broken last Thursday.  Market flows all point to longs for USDx.