US DOLLAR INDEX: The market remains locked in a multi-day consolidation and should continue to chop between the 9,600-10,100 area. Overall, we do retain a bullish outlook given the broader recovery structure out from a major base in 2011 and therefore recommend looking to buy on dips. Back above 9,800 should now confirm and accelerate gains while ultimately only a sustained break below 9,500 gives reason for rethink.
Joel Kruger
Technical Currency Strategist
DailyFX Research Team
http://www.dailyfx.com
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