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US dollar fades lower yet seems likely to spike
The US dollar has been regaining some of the ground lost in the first two weeks of October and ultimately challenged the crucial $95.10 resistance level last night. Despite pulling back from this level, the fact that the price passed through it for over 30 minutes, alongside the nature of this current move lower, points towards a likely return to and break through $95.10. Support provided by a descending trendline, along with the 20- and 200-hour SMAs gives further confidence that this will happen. Thus I am bullish unless the price moves back below $94.86, with the resistance levels I am looking at coming around $95.22, $95.34 and $95.40 for the near term.