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Dollar likely to suffer further losses after topping off
The strong upside move in the Dollar Basket has eased somewhat and the market is now looking like we could begin to trend lower to take back some of those gains. The 96.15 support level is one area to watch and for now it is providing the base for a short-term bounce.
However, I expect to see this represent a short-term phenomenon which will be sold into. Thus I am bearish for a move back towards 95.93 and 95.66 as long as price remains below 96.50 resistance.