USDOLLAR Channel and Measured Support Just Below Current Level
240 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has broken below the early month low of 9856 which puts bulls in a precarious position. Levels to watch for support in the coming days include the 100% extension of the decline from the top at 9821, the 50% retracement of the rally from the October low at 9767 and the 61.8% retracement at 9690. Exceeding 9904 would once again give scope to a bullish outcome.
Bottom Line – flat
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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