Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) advance has stalled at resistance from the 3/22 high (10032). Breaks above 10097 and 10134 are expected in the coming weeks. Reasons to turn bullish ahead of the break include alignment of moving averages (shorter above longer) and daily RSI action, which continues to bounce from near 50 (a bullish characteristic). 10020 and 9995 are supports.
Bottom Line (next 5 days) – higher
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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