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Key levels across Major FX pairs
The dollar had a big drop yesterday (just over half a percent), today the picture is more mixed. The price candle has developed a long wick to the downside showing some buying pressure has come back. It was important that today’s candle didn’t take out the lows of January 22nd around 90.05. Price came very close to the previous broken downtrend line from March and for the bulls price hasn’t closed below the light blue 50-day SMA. The RSI needs to hold above 45 support as indicated by the white horizontal line. If inflation out today beats expectations we could see yields move higher and the dollar catch a bid ... (full story)