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Free AccessDOLLAR-INDEX TECHS: Bears Need Close Below.......>
US: DOLLAR-INDEX TECHS: Bears Need Close Below 93.291
*RES 4: 94.695 - Hourly resistance May 30
*RES 3: 94.450 - High June 1
*RES 2: 93.933 - Hourly resistance June 5
*RES 1: 93.674 - 21-DMA
*PRICE: 93.512 @ 0340GMT
*SUP 1: 93.291 - Low May 22
*SUP 2: 92.841 - Alternating daily support/resistance
*SUP 3: 92.223 - Low May 14
*SUP 4: 92.008 - 200-DMA
*COMMENTARY: Bears take comfort in the dip below the 21-DMA but the 93.291
support remains key. Bears need a close below to confirm traction below the
21-DMA and target a move back to 92.008-223 where the 200-DMA is noted.
Correcting O/B studies have added weight to the bearish case. The 94.450
resistance is key. Bulls now need a close above 94.450 to end correction talk
and initially focus on 2018 highs.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.