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Dollar Index Candle Chart 13 Oct 2009

Dollar Index Chart 12 Oct 2009

Dollar Index Chart 12 Oct 2009

With the markets closed in both the US and Japan yesterday the dollar index responded by continuing to try to find a platform of support from which to provide a base to rally and reverse its current, long, slow decline.  The 76 price level on the daily index chart seems to be providing a degree of stability at present, but with all three moving averages still weighing heavily the tone is still decidedly bearish it will be no great surprise to see this level breached with a subsequent fall once again for the US dollar.

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