Signs of Life

That's right, the good ole US Buck is showing signs of a heartbeat.
 USD Daily
 click to enlarge
Note the very minor recent positive divergence on the 14 day RSI.
Basing action with support at 73.50 repeatedly holding.
Near term the descending wedge resistance line was  penetrated decisively yesterday.
On a settle basis there has been a series of higher lows since May 2.
It's fair to say that a move above 75.65, an overlap of the Aug 5 high, and taking out the descending trendline would raise a lot of red flags for the shorts.
click to enlarge
Note the positive divergence on the long term weekly RSI.
The legs down off the highs are almost equivalent,  C= 1.02 of A.

If this thing can catch a bid here, hold the fib .618 retrace of the last leg, and put in new highs, it will be very constructive.
click to enlarge
Note the positive divergence on the hourly RSI.

 If the dollar is strengthening, the Eurozone is on the ropes,
 China and India are slowing,  can Crude Oil/ Products continue going up?
Check out this EIA chart;


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