Forex | Forex Strategies | DXY probes key Fib (24/08/2009 08:49:12)

DXY probes key Fib

The US Dollar Index rejected at a 5-month downward sloping trendline and at the key 50-day moving average earlier in the week and has struggled going into Friday's close. A strong rebound in commodities and equities has forced the DXY back towards a key Fib at 77.93 (61.8% of 70.69-89.62). While 4-hourly studies are at oversold levels, daily indicators suggest plenty of room to test 77.45, near the December 2008 swing low and the recent lows made in early August. Moreover, according to


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