Talking Points:
- USDOLLAR looks poised for another leg higher
- Well supported by trend-line since October
- 2009 high of 11,800 looks likely
The USDOLLAR index continues to maintain a bullish posture by making higher lows, and now working its way towards a potential apex of an ascending triangle. Trend support since the last USD correction in October continues to underpin long positions. A breakout above 11,715 is likely to lead the index up to the 2009 high of 11,800. A break of 11,645 will undermine the short-term bullish bias.
USDOLLAR 4-hr: Oct ’14 – Present
--- Written by Paul Robinson, DailyFX Research
To contact Paul, you can email him at instructor@dailyfx.com
