USDollar Reverses-at Short Term Support Line
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) rally reversed just shy of the 61.8% retracement of the 10054-9672 decline and 61.8% extension of the 9672-9878 rally. The 50 day average held and price is now testing a short term support line. A drop under 9779 would confirm the advance from 9672 as a 3 wave affair and put the January low in play.
Bottom Line – Lower
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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