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Forex: US Dollar Index extends its correction

FXstreet.com (Barcelona) - After hitting fresh 5 –week highs around 83.50 on Friday, the US Dollar Index – which tracks the greenback vs. its major competitors – has initiated a correction lower to the current region of 83.20/25, giving some oxygen to the risk-associated assets and high-beta currencies at the same time.

The spark in the USD came after the better-than-expected jobs data on Thursday, with Initial Claims posting a 5-year low falling to 323K in the week ended don May 3.

As of writing, the index is advancing 0.38% at 83.18 and according to tradingcentral.com, the next resistance levels line up at 83.40 and 83.50 while support barriers are located at 82.40, 82.25 and 82.10.

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