US Dollar Index Recovering off 76.4% Support
16 November 2011
WEEKLY CHART:
After the recent bull leg breached the rising return line and then saw erosion of the 78.812 38.2% recovery level, dips have been presumed temporary.
DAILY CHART:
On the Daily chart the pullback from the 76.4% recovery area was deep, but see how good support came from the 76.4% retracementlevel.
At this stage we look for recovery to continue, having previously assumed dips would be temporary. A push beyond the 79.838 04-Oct high would be the next positive signal.
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