USDOLLAR Regains Footing; Possible Resistance Near 10690
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The USDOLLAR reversed sharply on Friday. Monday’s close beneath the 12/27 low opens up the door for lower prices. The measured target from the 10631-10728 range is 10534, which is in line with the 11/20 low at 10535. However, failure to follow through on the downside today (Tuesday) warns of a false move.
Trading Bias: Flat
LEVELS: 10535 10594 10631 | 10668 10696 10726
--- 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.