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US Dollar Index flat around 83.75/80

FXstreet.com (Barcelona) - The greenback, in terms of the US Dollar Index, is reverting a negative start and trading around 83.75/80 on Monday.

“The key point out of Bernanke’s speech is the Fed’s bias to taper QE if incoming economic data is strong. As such, volatility around key data points will be high. Although the market may struggle to push yields much higher in the very short-term, we think that Bernanke’s speech is a turning point and yields are set to establish higher trading ranges”, noted the research team at NAB.

As of writing, the index is losing just 0.02% at 83.74 and according to tradingcentral.com, the next support is at 83.45, 83.30 and 83.10 while resistance levels align at 83.80, 84.00 and 84.20.

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