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USDOLLAR Tests Important Highs – Break Targets 2011 High

USDOLLAR Tests Important Highs – Break Targets 2011 High

2011-12-14 16:47:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Tests Important Highs – Break Targets 2011 High

Prepared by Jamie Saettele, CMT

The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is putting highs from the last several months to the test. In the event of a break higher, focus shifts to the channel resistance and the January (and 2011) high at 10217). 10040, 10005, and 9982 are now supports. The Monday low at 9870 serves as the pivot going forward.

Other TA Articles

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com.  Follow me on Twitter @JamieSaettele

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Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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