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USD Pulls Back from Resistance - But Will Bulls Respond to Support?
In yesterday’s article, we looked at the U.S. Dollar putting in bullish indications after the ECB meeting from two weeks ago. When the ECB kicked the can on stimulus taper, the Euro sank and the U.S. Dollar shot-higher as capital flowed out of the single currency. The day after ECB saw prices in DXY move up to the psychological level of 95.00, which was a fresh three-month high in the Greenback; and this includes a break above a key zone of prior resistance that had run from 94.08-94.30. But after running into the 95.00 level, bulls have had a difficult time mustering the motivation to continue the move. On the ... (full story)