USDOLLAR Drops to Weekly Low in Late Trade
Prepared by Jamie Saettele, CMT
“The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has dropped to a new low for the week and month. Focus is now on the 5/21 low at 10077. This level is reinforced by the 100% extension of the decline from the top. The 50% retracement of the advance from the April (4/30) low is at 10065. In other words, 10065/77 is probably strong support if reached.
LEVELS: 10050 10077 10130 10162 10188 10220
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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