FOREX Technical Analysis: USDOLLAR Soft Resistance at 9977
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: The USDOLLAR has spent the month trading sideways. With this in mind, it’s possible that a triangle began in December. In that event, the December range would tighten for at least another week before the index breaks below 9917 probably tests 9866.
FOREX Trading Strategy: Nothing.
LEVELS: 9866 9891 9917 9977 10013 10044
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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Jamie is the author of Sentiment in the Forex Market.