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Dollar index (USDX) tries to battle back

Yesterday a number of updates here noted the importance of the support level at 101.42. In fact that level had been highlighted here for a while before that. So, eventually the break below 101.42 did extend and it gathered pace into the 4pm London spot month-end fix. The index dropped back to a low at 100.83 around that time, There was a very modest bounce into the US close, but nothing of any real consequence. The index closed in the US at 100.98. It opened lower today though and extended the downside run to a low at 100.67 earlier this morning. It is trying to fight back now though, but it remains to be seen how far that might run. Anything this side of 101.42 might not count for much either and it has not yet reclaimed any levels above the 101 handle, so the pressure is still there for the time being. The major support level lower down remains as it was, at 99.57 

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