The Dollar is in a good up move and has touched 50.19 on 10th November 2011, however it has seemed to hit a Upward channel are resistance and at the same time, it has formed a negative divergence with the RSI , indicating that a fall is iminent in the dollar.
However the fall will not be a sharp one, it should find support at its upward channel line at 48.90-49.00
The dollar is in a good up move and is forming a Flag formation and a break from the upward resistance of 50.40 could take the dollar to 51.5 to 52 levels.
However for the time being the advise would be to go short on Dollar for a very short term perspective with a target of 49.50-49.30
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