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USD Index 14 June 2010

USD Index Candle Chart 14th June 2010

The dollar index stalled last week pulling back from its recent strong performance and traded marginally lower each day in a series of small, downwards steps.  Friday’s price action found support from the 14 day moving average but in today’s early trading the index has broken below this key level suggesting that we may see a period of bearish sentiment reflected in the index short term.  The key indicator now is the 40 day moving average which currently sits at 85 but provided this offers a platform of support, as expected, then any move lower by the dollar should only be a temporary one.

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