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Home » Forex Chart of the Day » US Dollar Index Classical Technical Report 03.02

The market remains locked in a multi-day consolidation and should continue to chop between the 9,600-10,100 area. Overall, we do retain a bullish outlook given the broader recovery structure out from a major base in 2011 and therefore recommend looking to buy on dips. The recent break back above 9,800 should now confirm and accelerate gains while ultimately only a sustained break below 9,500 gives reason for rethink.