The US Dollar index has made a nice comeback after its free-fall from late November to mid December. The Dollar is up 6.76% from its low on December 17th, but as shown in the chart below, it is bumping up against key resistance at its 50-day moving average. If the Dollar is able to break above its 50-day, a resumption of its multi-month uptrend will be solidified. If it fails to break through, however, the current level will be one peak of a newly formed downtrend.
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