USDOLLAR Forms Inside Day as 10000 Looms
Prepared by Jamie Saettele, CMT
“The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is testing the April high (10038) as support. This level is reinforced by the 60 day average (I’ll look at moving averages that make sense to me…such as 20, 60, 120, 240, which are roughly 1 month, 3 months, 6 months, and 12 months). A stronger support area if reached would be the 61.8% retracement of the advance from 9816 at 10010. This level is reinforced by channel support.
LEVELS: 9975 10005 10026 10090 10111 10144
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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