A recovery off near-term downtrend support is now testing initial downtrend resistance here with the 200DMA highlighting the 75% parallel here near 2344 post CPI / FOMC.

Key resistance / bearish invalidation steady at 2387.

Support rests with the May low at 2277- note the median-line there over the next few days. A break / close below would be needed to mark downtrend resumption.

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Michael Boutros, Sr Technical Strategist
MBForex
Trend Analysis

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