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US Dollar technical forecast: USD major support test ahead of Fed
The US Dollar Index is off by more than 0.7% this week with DXY attempting to mark a fourth consecutive daily decline ahead of tomorrow’s highly anticipated FOMC interest rate decision. The sell-off is now testing the first major support barrier and the battle lines are well-defined heading into the Fed. These are the updated targets and invalidation levels that matter on the DXY weekly technical chart. charts Technical Outlook: In last month’s US Dollar Index technical forecast we noted that the rally in DXY may be vulnerable heading into a critical resistance zone, “ at 105.73-106.15 – a region defined by ... (full story)