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USDOLLAR Huge Test Comes at 10323/55

USDOLLAR Huge Test Comes at 10323/55

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Huge Test Comes at 10323/55

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDOLLAR has dropped into 10385. This was estimated support although a more important zone is defined by the June 2012 high and October 2013 low at 10323/55.

-The top of the zone is also home to the line that extends off of the 2011 and 2012 lows and downward sloping channel support. Trading wise, it’s dangerous to look higher as long as price is below Friday’s high. I wouldn’t look to be a hero on the long side until Friday at the earliest.

LEVELS: 10275 10313 10355 | 10401 10427 10445

--Trading specifics (setups with entries, stops, targets) are available to J.S. Trade Desk members.

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

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