USD: Index governed by the technical factors - BBH

Analysts at BBH point out that the Dollar Index gapped lower in response to the first round of the French election and that gap was closed yesterday and the Dollar Index is in the upper half of yesterday's range.  

Key Quotes

“If the Dollar Index can hold on to the recent gains, the five-day moving average can cross back above the 20-day for the first time in a nearly a month.  A similar gap in the euro, however, has not been filled.  The gap is found between $1.0738 and $1.0821.  The 20-day average is found near $1.0830, and the euro has not closed below that average since April 17.   The 200-day average is also at $1.0830.”