USDOLLAR Up Over 4% in May and Support is Now 10220
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has exceeded channel resistance. Recent commentary was that “a break higher is ultimately expected but probably not before a much needed pullback.” That pullback is elusive but a new month offers a new perspective and pivot (in time) from which to trade. 10220 is initial support.
LEVELS: 10130 10155 10220 10310 10400 10485
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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