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USDX technical analysis for June 9, 2015

The US Dollar Index has made a bearish reversal from the 61.8% retracement as we expected. It has reached the recent low and support in the area of 94.80-94.60. A beak below this level will increase the chances of new intermediate lows bleow 93.10.

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The US Dollar Index is below the Ichimoku cloud. Gold was rejected at both the upper cloud boundary and at the 61.8% retracement. Yesterday, we got a bearish signal that warned bulls about it. On the other hand, bears want to break below 94.60 in order to put the level of 93.10 to the test.

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