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USD Index Breaks Below 81.70 Which Opens The Door For 81.00

Sameer Kapoor 2 May 2013

The USD index extended its losses yesterday, falling through 81.70 swing low from mid-April, which makes a corrective decline from 83.50 much more complex than first thought.

We are now tracking a new five wave decline from 83.20, which represents wave (C), a final leg of a zig-zag in wave E that could look for a bottom around 80.80-81.20 area.