As we predicted yesterday, the DXY continues to consolidate in a sideways correction between the relatively narrow range between 106.13 and 107.20. This follows a retracement from highs around 109. It is reasonable to expect the dollar to correct a bit after such a strong rally. If we break out, we could test 108.50 again. If we break down, we could test our levels in the 105's at 105.78 and 105.25.
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