Dollar Index: The CPI-higher rates sparked a rally in the Dollar Index that stalled at the (61.8%) retracement objective (~90.90) of the decline from the high seen in the middle of the previous week, which is also where the 20-day moving average is found. The Dollar Index has not closed above its 20-day moving average in over a month. A break of 90.00, near where the lower Bollinger Band starts the news week, signals a test on the February low near 89.65. Beyond that is the low for the year set in early January by 89.20, a three-year low. The momentum indicators seem somewhat supportive, but the weak close ahead of the weekend means that they may play catch-up.
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