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US Dollar Index threatens 83.00

FXstreet.com (Barcelona) - The greenback, in terms of the US Dollar Index, is trading on the back foot on Thursday, dragged lower after disappointing data from the US economy.

“USD index uptrend still in good shape, though near term 83.50 support needs to hold. Moderate upside risk on next week’s data suggests the recent break higher in US yields has legs, at least until next week. Williams, George and Fisher next week likely to echo Bernanke’s message that a modest reduction in asset purchases is on the table if the data continues to be firm”, suggested Sean Callow, Strategist at Westpac.

As of writing, the index is down 0.76% at 83.07 and according to tradingcentral.com, the next support levels line up at 82.95 and 82.80; while resistances align at 83.70, 83.95 and 84.10.

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