There’s not much going on in the currency market today, so we will dedicate this alert to one thing that has actually changed recently. The USD Index moved only a little higher yesterday but this little move was all that was needed to see the Index at the key, long-term resistance level. Will this trend be enough to keep the U.S. dollar’s rally in check?

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Earlier today, official data showed that although U.K. gross domestic product rose 0.7% in the third quarter, it was down from a 0.8% growth rate in the three months to June. Additionally, year-on-year, the U.K. economy didn’t change from the second quarter's revised rate, which pushed GBP/USD to a fresh 2014 low against the greenback. Did this drop change anything in the short-term picture?

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Although USD/CHF successfully broke above its important resistance line on Friday, the pair didn’t hit a fresh 2014 high in contrast to the USD Index, which climbed to its highest level since March 2006. Earlier today, we saw another unsuccessful attempt to move higher. Does it mean that the rally is getting out of steam and we’ll see a trend reversal in the coming week?

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Earlier today, the USD Index, which tracks the performance of the U.S. currency against a basket of six major rivals, climbed to a fresh 2014 high of 89.87 as yesterday’s solid data from the U.S. Department of Labor and Wednesday’s the Federal Reserve's policy statement continued to support the greenback. How did this rally affect the technical picture of major currency pairs?

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Earlier today, the U.S. Department of Labor showed that the initial jobless claims in the week ending December 12 fell by 6,000 to 289,000 beating analysts’ expectations for an increase of 1,000. These bullish numbers supported the greenback and pushed USD/CHF to a fresh 2014 high. Will we see further rally?

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