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USD Inde 27 May 2010

USD Index 27 May 2010

The dollar index continues to remain bullish and despite yesterday’s modest pause in the 87.25 region the long term outlook still remains positive.  This was further evidenced yesterday with the low of the session finding solid support from the 9 day moving average.  This is further confirmed by all four moving averages on the daily chart which are now pointing firmly higher and the only issue in the longer term is the near term resistance at 88.50 and beyond and once we are clear of this area then we can expect to see the dollar index run towards 92.32 and above with a consequent strengthening of the dollar against all major currencies as a result.

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