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USD Index (DXY) Double Bottom Reversal

The USD Index remains firm and is testing key resistance at 93.73, Aug 20 high. From a medium-term perspective, a clear breach of 93.73 would reinforce the broad double bottom reversal pattern that appears to have developed this year. The midpoint is the Mar 31 high - a clear break of this 93.44 high would confirm the reversal pattern.

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  • The USD Index remains firm and is testing key resistance at 93.73, Aug 20 high
  • From a medium-term perspective, a clear breach of 93.73 would reinforce the broad double bottom reversal pattern that appears to have developed this year
  • The midpoint is the Mar 31 high - a clear break of this 93.44 high would confirm the reversal pattern
  • The pattern, if correct, suggests the USD is potentially in the early stages of a broader medium-term recovery