USDOLLAR Rebounds from December Low
240 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) was able to claw back over half of its losses on the day after testing the December low (9786). A short term channel is holding as well but additional evidence is needed to favor longs. Resistance for Friday is 9835 and 9870. The next potential support is the 50% retracement of the rally from the October low at 9766.
Bottom Line – flat
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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