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US Dollar Price Analysis: Bears taking out short-term structure, 103 vulnerable of a test below
Despite the persistent message from Fed members that there is a ''need to raise interest rates 'a good deal more' over the coming months,'' the US dollar has been on the back foot. While it has been breaking the short-term structure and the trend from 101.297, as illustrated below, the long-term bullish playbook remains very much in play, at least from a technical standpoint. The following is a top-down analysis that arrives at a bullish bias for the longer term, albeit noting the prospects of a near-term significant correction on the shorter-term charts. chart As illustrated in the hourly time frame, the price has ... (full story)