USDOLLAR Working Towards Resistance Line above 10000
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is nearing potential resistance from a trendline that extends off of the October and November highs. The line is at about 10040 today. The critical level is the October high at 10136 as a move above there would trigger a break towards the November 2010 high at 10334. A range strategy is advocated as long as price is below 10136.
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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