The US dollar sold off strongly, broke below the 102.00 support level, and quickly recovered on Thursday.

The index seems to have entered the collecting phase for now. The next upward move is 102.84 (August 3), the highest ever, while a break above indicates a possible move to the 200-day moving average of 103.37 points before the July high of 103.57 (July 3). Broadly speaking, the indicator should remain negative even though it is below the 200-day moving average.

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