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US Dollar: A Pull Back Coming Soon?

1 year ago
Forex Blog

US Dollar Index has been following to the bears against a basket of major currencies and it’s approaching to the 200 SMA at H1 chart, nearing to the Fibonacci level of 50% (92.14). If the index manages to break above that area, we can expect an acceleration to test September 1st highs at 92.80, at which is located the Fibo level of 78.6%.

However, if we see a pull back at the current stage, the index could plummet towards the -23.6% level at 90.42. RSI indicator remains in the positive territory.

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