USDOLLAR Pops from Support; 10760 Push Would Improve Conditions
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Interested in automated trading with Mirror Trader
FOREXAnalysis: “The 6/19 close (FOMC day) continues to act as support. Price is just 2 days removed from a multi-month low so it’s premature to call an important turn but price holding support is a good sign. Failure to hold here would shift focus to the March-April tops at 10586 (close to 6/6 close as well).” Today’s advance is a good start for a larger bull move. Exceeding 10760 would break a lower high and increase confidence that a low is in place.
FOREX Trading Strategy: Flat
LEVELS: 10586 10644 10683 10760 10803 10857
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail email@example.com. Follow me on Twitter for real time updates @JamieSaettele
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.