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Dollar Index futures search for a rebound near pivot point
The US dollar index futures crashed below the short-term ascending line drawn from 95.34 and are now set to beat a longer support line stretched from March 2018. The fast-Stochastics and the RSI, however, signal that the bearish action is running out of fuel and hence a rebound off the line is likely as the indicators are hovering near oversold levels. Note that the market action has been also taking place around the lower bollinger band, increasing the odds for an upside reversal. Should the bulls take over, the index could have a quick test of the 97.52 familiar resistance area, which is also where the 38.2% ... (full story)