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US Dollar Chart Hints Prices Vulnerable to Downward Reversal
THE TAKEAWAY: The US Dollar technical positioning warns that prices are vulnerable to a downward reversal after touching the highest level in nearly three years last week. Capitalize on Shifts in Market Mood with the DailyFX Speculative Sentiment Index. US DOLLAR TECHNICAL ANALYSIS– Prices put in a Dark Cloud Cover candlestick pattern, hinting a move lower may be ahead. Negative RSI divergence reinforces the case for a downside scenario. Initial support is at 10763, the 23.6% Fibonacci retracement, with a break below that targeting the 38.2% level at 10694. Near-term resistance is at 10876, the May 23 high. Daily ... (full story)
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