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USDOLLAR 12100 is Key to Breakout Case

USDOLLAR 12100 is Key to Breakout Case

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

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

-The last update remarked that “the USDOLLAR index is at fresh trend highs and its best level since April 2003. Uptrend resistance could influence near 12300 but range expansion targets are 12490 and 12690.” The index has pulled back and 12100 (12104 is the September high and the breakout day low) looks key to maintaining a ‘breakout’ bias. Weakness below there could result in a swift reversal of fortune for the USDOLLAR.

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

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