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USDOLLAR Former Support is of Interest as Resistance Now

USDOLLAR Former Support is of Interest as Resistance Now

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Former Support is of Interest as Resistance Now

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“USDOLLAR continues to respect well-defined parallels. A drop below the lower parallel would indicate an important behavior change and potential for the largest decline since July 2014. At the same time, the median line could provide resistance near 12220.”

-“The drop below the support line indicates that trend has changed (to at least sideways and maybe down). Watch 12088 for resistance.”

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

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