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Wednesday, May 16, 2012

USD at an important cross-road

 USD Index - Is testing strong resistance, but we we break above here (close above on a weekly basis) the next target will be at 91.61, which is the Inverted Shoulder/Head/Shoulder target. On the way up we should expect strong resistance at 88.75 too.
EUR/USD - Here we are currently testing strong support near 1.2625, but if this support breaks (close below on a weekly basis) then the long term support-line of the rising channel becomes the target. If we break below support at 1.2625 expect good support at 1.1632 too.

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