USDOLLAR Trades into April Low
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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-The USDOLLAR has slid below where the decline from the July high would consist of 2 equal waves (10449) and into the April low of 10391 (low is 10389).
-A major channel support confluence has been reached. Failure to hold the current level opens up the 2012 high at 10323.
Trading Strategy: No bullish setup yet but the market is in the right place for a low.
LEVELS: 10323 10391 10402 | 10460 10500 10530
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail firstname.lastname@example.org. 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.