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From : FX Daily Hotline: 28 July 2014
Chart of the day: Dollar Index extended to new s-t highs

The US Dollar extended its rally to new short term highs, with the US Dollar Index testing the 81 level.

While the next clear resistance level is further up at the January highs at 81.35, we note that the index now approaches overbought territory on the 14-day RSI. We therefore watch for some further upside from here, but do not anticipate a break above the January ceiling.

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