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FOREX Technical Analysis: USDOLLAR Drops into 11/7 Low

FOREX Technical Analysis: USDOLLAR Drops into 11/7 Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

FOREX_Technical_Analysis_USDOLLAR_Drops_into_117_Low_body_usdollar.png, FOREX Technical Analysis: USDOLLAR Drops into 11/7 Low

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDOLLAR is testing support from the trendline that extends off of the September and October lows. Additional support is estimated just below the current level from 9945 (Fibonacci) and 9923 (11/7 low). I’m on the lookout for at least an interim (3-5 days) low and return to 10009.

FOREX Trading Strategy: Nothing.

LEVELS: 9891 9923 9945 10009 10044 10071

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

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

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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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