The rally the dollar is enjoying has stepped up the talk of near term rate hikes from the FOMC.  The more the dollar rallies, the more it seems that traders are intent on strong-arming the Fed into a sooner — rather than later — rate hike to support the battered dollar.

There are some important levels that need to see buyers step in so that the rally can set a foundation.  74.00 will be the key level to watch. 

Here’s the chart.

- Raghee