Don’t Fall in Love with USDOLLAR Rally
60 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) rally from the 2/8 low consists of 2 equal legs, which is typical of a correction. The implications are for weakness from the current level. Tuesday’s top matches up with former lows as well (1/2, 1/3, and 1/23…former support becomes resistance). The USDOLLAR is vulnerable at these levels.
Bottom Line – flat
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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