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USD Weakness To Be Short-Lived, Australian Dollar To Hold Tight Range
The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) remains 0.34 percent lower from the open after moving 109 percent of its average true range, and the greenback should continue to track higher over the next 24-hours of trading as the 30-minute relative strength index bounces back from oversold territory. Looking at the broader channel, the dollar looks poised for another move towards 9,900, and we maintain a bullish outlook for the reserve currency as the fundamental outlook for the world’s largest economy continues to improve. However, as risk trends continues to dictate price action across the financial ... (full story)
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