USDOLLAR Corrective Channel Break Portends Larger Decline
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-USDOLLAR has broken near term channel support. The break suggests that weakness has transitioned from corrective to impulsive. After 9 consecutive days down, the market is in need of a pullback. Former lows from 10599 to 10619 are possible resistance.
-Near term focus is on 10535/65. Continue to use the 2/7 outside day high as a line in the sand for trend.
LEVELS: 10438 10493 10565 | 10619 10649 10675
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