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From : FX Daily Hotline: 15 April 2014
Chart of the day: Dollar Index finds support...

Today we note that the Dollar Index has found short term support at its recent March low at around 79.380, having weakened significantly since the beginning of the month. The index now makes an oversold correction back into its medium term downtrend, with immediate resistance provided by the 50-day EMA line.

Looking ahead, were the July 2013 downtrend to hold and support broken, further medium term support exists at around the 79.000 level.

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