Light news day for the markets. Will the US Dollar continue higher?

The US Dollar Index gapped open higher after the weekend and moved into resistance near the 90.50/60 area. The gap fill is an important first support area, which incidentally is near the psychological 90.00 area. If price can hold above there, the DXY can run to 91.50, and possibly even 92.00 Note the RSI hit 70 and turned lower. The index may just be biding its time while waiting for the RSI to move further into neutral territory. EUR/USD EUR/USD is moving opposite the DXY. The pair broke lower below an ascending channel on Friday and continues to move lower. The target for the breakdown of an ascending … (full story)

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