The Dollar Index (DX) is trading firm at 82.60 ranges after appreciating from 80.60 ranges last week. The DX is expected to test interim resistance of 83.40 ranges until it manages to hang above 81.60 ranges on a daily closing basis. Now that most of the FX majors have slipped below their critical supports against the Greenback, the USD is expected to appreciate further.
The historic DX Vs DJIA correlation suggests the long-term trend is still Dollar bearish, but only while the Dollar Index doesn't close above 84.50 with 83.40 ranges acting as intermediate resistance.
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