USDOLLAR May Congestion Continues to Hold as Support
Prepared by Jamie Saettele, CMT
“The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) dropped into support from the 20 day average and late May congestion. The decline from the top also consists of 2 equal waves (exact equality would be 10146.75 and the low was 10144.37). In any case, this is a good level to test the long side against 10076.” The gap lower actually stayed above last week’s low. Near term focus is on Friday’s high.
LEVELS: 10144 10170 10200 10243 10259 10313
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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