USDOLLAR Trendline Support Holding For Now
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) rally failed before the October high but did find support from the October-November trendline and former resistance just above 9900. Near term resistance is now 10000. The battle lines are drawn. A drop under 9892 would shift focus to the December low at 9785 and then the November low at 9665 (reinforced by 200 day average). Exceeding 10090 sets sight on the October high and then an extension at 10254.
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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