The dollar fell today, testing and closing barely above the lower uptrend line that marks my hypothesis of a large diagonal in this currency. As I've mentioned, the movement in a diagonal is expected to be ziggy-zaggy. However, if it falls out of the trendline support, then I've got to set up another way to view it (more bearish of course, at least for the short-term). If the dollar remains above this trendline and uses it for support, then it could remain on the path toward my hypothesis of a higher level in late May.
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