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Dollar Index breaking to new October low
The Dollar Index is selling off once more this morning, to continue the trend of dollar weakness that has dominated the month of October. With price currently breaking below 94.74, I am looking for a move towards 94.50 and ultimately back to 94.20 by the end of the week. We continue to create new lows and the 20-period simple moving average provides decent resistance for any retracement higher. Thus I continue to be bullish as long as price remains at the recent high of 95.09.