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USD Continues To Appreciate

  • DXY remains in a clear uptrend and suggests the USD is likely to appreciate further in the near-term.
  • The recent breach of 100.00 was a positive development and bulls haven’t looked back.
  • Furthermore moving average studies are in a bull-mode, highlighting current sentiment.
  • The daily condition is overbought, however this is not affecting the trend - for now.
  • The focus is on key resistance at 102.99, the Mar 20 2020 high. This has been probed today.
  • The next major resistance is at 103.82, the Jan 3 2017 high.

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