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USDOLLAR Breaks Below Yearlong Trendline

USDOLLAR Breaks Below Yearlong Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Breaks Below Yearlong Trendline

Prepared by Jamie Saettele, CMT

The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has traded below its yearlong trendline support, leaving immediate focus on the April low at 9816. 9900 and 9930/50 are now resistance in the event of a rally and the trend should be considered down against 10000.

LEVELS: 9672 9738 9816 9900 9930 9950

--- 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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