Continued sluggish performance by the Dollar is keeping it within a 550 pt Range between roughly 88.00 and 91.00. As previously mentioned, current market condition is a strong downtrend weakening and consolidating inside that relatively narrow range. This mornings Retail Sales announcement came in lower than expected, probably contributing to the continued drop in price. At the moment the Dollar is testing the 50.0% Fib retracement off of the March 1st high. Most technicals support a STRONG SELL but fundamentals are neutral. Will be waiting on the sideline but keeping a close eye on movement in either direction and correlating Dollar strength against other currencies for FX trading opportunities.
