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USDollar Focus on Former Resistance Near 9900

USDollar Focus on Former Resistance Near 9900

2012-03-26 21:02:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDollar Focus on Former Resistance Near 9900

Prepared by Jamie Saettele, CMT

The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) closed below its potential channel support and 20 day average today to return focus to the 2/22 high at 9896 and 2/29 high at 9840. Resistance is now 9830/40 and today’s high at 9998 serves as the pivot.

Bottom Line (next 5 days) – ?

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com.  Follow me on Twitter @JamieSaettele

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Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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