NewChart of the day: The dollar in retreat

When even the euro - against a grim Greek background - can rally against the US dollar, "Houston, we have a problem". The daily Ichimoku cloud chart of the value of the US dollar as measured against a basket of major currencies shows its slide since mid-April. Moving averages are mixed as prices work in a right-angled triangle, and this week they slipped just below its bottom edge to cling to support provided by the bottom of the cloud. If this gives way on today's close it would confirm an interim high for the greenback which will now start retracing part of the strong gains since July last year. First target trend line support, then the key 92.5 area.