USDOLLAR Trendline Resistance Turns Back Bulls
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) was turned back by short term channel resistance. More importantly, the index is nearing the apex of its contracting range that has been underway since last summer. Support comes in at the current level and 9900 (former resistance and 50% retracement).
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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