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USDollar Marks Time

USDollar Marks Time

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDollar Marks Time

Prepared by Jamie Saettele, CMT

The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) advance has stalled at resistance from the 3/22 high (10032). Breaks above 10097 and 10134 are expected in the coming weeks. Reasons to turn bullish ahead of the break include alignment of moving averages (shorter above longer) and daily RSI action, which continues to bounce from near 50 (a bullish characteristic). 10020 and 9995 are supports.

Bottom Line (next 5 days) – higher

--- 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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