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USDOLLAR August Low Now Acting as Resistance

USDOLLAR August Low Now Acting as Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR August Low Now Acting as Resistance

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-USDOLLAR traded to a 2 month high today (highest since 9/16). The Aug low at 10646 is serving as resistance now.

-The advance is impulsive and a higher low is in place at 10535. Look higher as long as price is above that level. Look towards 10708 and 10757.

Trading Strategy: Long against 10535.

LEVELS: 10544 10577 10609 | 10690 10708 10801

--- 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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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