The dollar is on a roll. Broad based signs of USD strength point to further material gains in the coming months. AUD/USD posted the low close that we were hoping to see last Fri implying the uptrend of the previous three years is over. It also confirmed the major dollar bullish signals seen the week before in USD/BRL and NZD/USD. EUR/USD closed last week outside its recent range suggesting the long-term downtrend has resumed and even the recent downtrend in USD/JPY appears to be faltering.
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Barclays Capital