The Dollar Index (DX) is consistently trading above the critical support of 82.90 to currently trade at 84.05 ranges. Though the Dollar Index is bullish 84.50-84.60 ranges is a formidable resistance; weekly close above 84.60 would result in long-term trend reversal in the USD.
The benchmark equity index of the Dow Jones Industrials Average (DJIA) seems to be over stretched though the major trend is still intact till DJIA manages to trade above 14860 ranges. Historic correlation between DX Vs DJIA the long term trend is still Dollar bearish till the Dollar Index is not closing above 84.50 ranges though the short term trend and medium term trends are bullish USD.
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