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  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/IkL6eYc0eq
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USDOLLAR at Potential Support from 61.8% Retracement

USDOLLAR at Potential Support from 61.8% Retracement

2012-07-16 22:20:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR at Potential Support from 61.8% Retracement

Prepared by Jamie Saettele, CMT

We should know in the next few days whether or not the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is going to continue higher from above or below 10025. Price is currently testing support from former trendline resistance and the 61.8% retracement of the advance from 10048. As such, I am looking higher against the latest swing low of 10048.

LEVELS: 10025 10048 10090 10142 10170 10195

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com.  Follow me on Twitter @JamieSaettele

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com

Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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