USDOLLAR Failure to Roll Over Shifts Focus Towards 9900
240 Minute Bars
Prepared by Jamie Saettele, CMT
“The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has traded below its yearlong trendline support, the April low at 9816 and the downward sloping channel…the next levels of interest are 9738 and 9672.” The bounce from just above 9738 has stalled at resistance from the 9/11 low / 9/13 high but the market has failed to rolled over as anticipated. Don’t be stubborn, exceeding the Monday high of 9850 would shift focus to 9892 (former support).
LEVELS: 9740 9797 9830 9863 9894 9930
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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