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The Dollar Index is stealing up on the 76.68 pivot I’d flagged as a bullish trigger, and the action at that price will tell us what may lie in store. If the rally is going to make a serious run at 80, however, it should be able to take on the two peaks shown in the chart without trouble. An uninterrupted thrust past both would affirm that this rally is more than just a flash-in-the-pan. If the rally continues, exceeding yet another peak at 76.99 before day’s end, that should send shorts diving for cover. _______ UPDATE (12:50 p.m. EDT): The 76.68 HP benchmark prevented our getting overly excited about the dollar’s rally. DXY made it only to 76.58, keeping us cautious ahead of today’s nsaty selloff.
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