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USDOLLAR Regains Footing; Possible Resistance Near 10690

USDOLLAR Regains Footing; Possible Resistance Near 10690

2014-01-14 21:23:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR Regains Footing; Possible Resistance Near 10690

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-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 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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