USDollar Still Faces Trendline Resistance above 10000
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) broke through the base channel on Friday and focus is now on the trendline that extends off of the October and November highs, at about 10035. Former resistance at 9946 is now probable support and the bullish breakout is valid as long as price remains above 9877.
Bottom Line (next 5 days) – higher
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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