USDOLLAR Bullish RSI Trendline Break
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.” Continue to look higher but allow for corrective weakness into 9900 as long as price is within its range. The RSI break on the daily may foreshadow something more exciting for bulls.
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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