USDOLLAR Dips into Former Resistance (Now Support)
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The 12/20 outside day reversal raise the possibility of a near term top but higher lows are in place since Oct with the latest low at 10620. Look higher towards 10757 and 10812 as long as price is above 10620.
-The market has traded into minor resistance just above 10700. 10757 is also a possible reaction area. The next big resistance level is not until 10812.
Trading Strategy: Long, against 10620.
LEVELS: 10594 10620 10669 | 10726 10757 10812
--- 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.