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USDX technical analysis for June 24, 2015

The US Dollar Index broke above the short-term resistance at 95.10 yesterday and bounced higher towards the 50% retracement of a decline from 97.80. There are some signs of the short-term reversal from this retracement level as the price remains inside the cloud-resistance area.


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The weekly chart is showing some bullish reversal signs. A low of 93.10 was held, the weekly candle is back above the kijun-sen resistance indicator. Next weekly resistance is seen at 95.70. A weekly close above this level will be a strong reversal signal. That will decrease dramatically the chances for a break below 93.10.

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