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USDOLLAR 11790-11840 Zone Holds Key to Next Move

USDOLLAR 11790-11840 Zone Holds Key to Next Move

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

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“It’s interesting to note that USDOLLAR has made turns in the middle of the month each month so far in 2015. With that in mind, this rally may have legs for at least 11900s before coming under significant pressure.”

-The index surpassed 11900 and nearly reached 12050. Today’s (6/2) sharp reversal could be part of a broader topping process but what happens near the retracement zone of the recent rally (50%-61.8% levels are 11790-11840) should aid in handicapping the next move.

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