USDOLLAR Rejects Low-Focus on 9775
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) may be trying to form some sort of a low as price has failed to extend into the November low at 9665. A drop below 9665 exposes the next level of support, which isn’t until the trendline that extends off of the July and October lows near 9600. The immediate resistance for Friday is 9775 and 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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