USDOLLAR Channel Resistance Holds – Remains Vulnerable
240 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) bounce from the confluence of the 61.8% retracement reversed at channel resistance, which keeps price vulnerable to fresh lows towards the November low at 9665. A move through 9794 is needed in order to trigger a bullish bias.
Bottom Line – flat
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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