SamKent

Dollar Index is at monthly resistance levels

INDEX:DXY   U.S. Dollar Index
135 0 4
While the overall market sentiment is still pro Dollar, last week's mixed action should not come as a surprise. The dollar index             is battling major resistance line on the monthly chart ( wedge formation), coupled with overbought or near overbought levels on the oscillators, as well as fairly dovish FOMC minutes release. There's a fairly high likelihood for a pause or some correction in the Dollar's rally.
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