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Dollar weakness persists
The dollar selloff is continuing today, in a move which is likely to have significant repercussions for dollar denominated markets. Given the importance of the 97.31 Fibonacci retracement, coupled with the ascending trendline from May, I would have thought it would hold up and the failure to do so is a little worrying.
Nevertheless, I remain bullish while Dollar Basket price remains above 96.52 and thus whilst we could see further downside for the near-term, I will be watching for reversal signals to continue the bullish theme of the past two months.