AdrianRaymondFX

DJ-FXCM US Dollar Index key reversal

FX:USDOLLAR   Dollar Index
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The USDOLLAR             is looking pretty bullish this afternoon (morning still in the US) after the inflation and manufacturing sector data published earlier today. Technicals seemed to suggest a risk of further declines in the US dollar             against currencies like the euro             , the yen and the Australian dollar             . But the support seen here (11,880 points) clearly is holding with the establishment of a bullish trendline at the daily lows. If durable orders data beat expectations tomorrow, we may very well see a return of USD strength going into the month's end. Watch for support with the 30-day EMA for support at 11,927 points as well as the trend line around 11,890 points.
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