Charting FX: dollar resurgence ahead of FOMC

In the lead up to the FOMC rate decision the dollar basket, on a long-term chart, looks to be entering a downward trajectory. However, short-term price action shows a possible bottom and further upside could be expected. 

Sterling is also in focus today, after the jobs reports. This morning’s spike shouldn’t hide the fact that we recently saw bottoms going lower, and we should be looking for reversal signals.

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