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Breakout potential on the DXY

Long
U.S. Dollar Index (TVC:DXY)  
JinDao_Tai  
TVC:DXY   U.S. Dollar Index
Trend Analysis Technical Indicators Fundamental Analysis Forex fx DXY USD breakout Support and Resistance FOMC federalreserve EURUSD
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trendanalysis indicator fundamental forex fx dxy usd breakout supportandresistance fomc federalreserve eurusd
Although the DXY traded with choppy price action on Friday, fluctuating along the 106.50 price level, the DXY has climbed steadily to retest the round number resistance area of 107.

Look for the price to break above the 107.20 price level to signal further upside potential, with the next resistance at 108.30.

Further upside on the DXY could be driven by significant weakness in the EURUSD and possible comments to come from the Federal Reserve regarding future interest rate decisions.
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