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Having failed to take out the YTD highs of...>

DOLLAR
DOLLAR: Having failed to take out the YTD highs of 96.98 on Friday, the DXY
pared gains at the NY close to hold around the 96.40 area. The USD witnessed
minor gains in early Asia, but as volumes remained light was contained to a
narrow 96.39-50 range. Bulls target a break of the 97.00 level, above here is
likely to accelerate the move toward 97.87 which represents the long term 61.8%
retracement of 103.82-88.25. Below 96 would see bears regain control, targeting
up trendline support at off the Sep lows at 95.30, ahead of the 100-dma at
95.08. Gold extends its declines off Friday's high ($1243.47) toward the $1230
area. Neckline support is seen at $1228.00, a break opens the 100-dma at
$1221.34.   

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