Heavy Selling in Dollar Index

09/11/2009 2:22 pm EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

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The completion of the weekly top in march (see March 13 chart) has led to a serious slide from the 89 area down to current levels just below 77 with very heavy selling over the past few days. There are two Fib targets in the 76.50 area with the major 78.6% support at 75.20, but weekly technical studies show no signs of bottoming.

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