USDOLLAR at 61.8% Retracement of Rally from October Low
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has reached the confluence of the 61.8% retracement and series of November lows from 9665 to 9690. With downside momentum so strong, a move through today’s high (9794) is needed in order to trigger a bullish bias. Interim resistance is 9730 and 9755.
Bottom Line – flat
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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