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USD Index To Consolidate, Australian Dollar At Critical Juncture

From dailyfx.com

The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) remains 0.21 percent higher from the open after moving 79 percent of its average true range, and we may see the greenback track sideways over near-term as it breaks out of the upward trending channel from earlier this month. As the 30-minute relative strength index falls back from a high of 66, we should see the USD hold within the Bollinger Bands going into the middle of the week, but the fundamental developments coming out of the world’s largest economy may prop up the reserve currency as the more robust recovery dampens the scope for another round of ... (full story)

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