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US Dollar Index Price Analysis: DXY renews monthly low but 101.30 can test bears
US Dollar Index (DXY) stands a slippery ground as it refreshes its monthly low around 101.45 during Friday’s Asian session. In doing so, the greenback gauge extends the previous day’s pullback amid bearish MACD signals. Also adding strength to the bearish bias is the descending RSI (14) line, not oversold. However, a convergence of the 50-DMA and 50% Fibonacci retracement of late March to early May upside, around 101.30, appears a tough nut to crack for the bears. Following that, the 101.00 threshold, also comprising mid-April tops, may entertain DXY bears ahead of directing them to the late March high near ... (full story)
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