US Dollar Index Classical Technical Report 02.29
US DOLLAR INDEX: 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 9,700 should now confirm and accelerate gains while ultimately only a sustained break below 9,500 gives reason for rethink.
--- Written by Joel Kruger, Technical Currency Strategist
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