USDOLLAR Recent Triangle Resistance Provides Support
Chart Prepared by Jamie Saettele, CMT
-The USD drop ended up finding support from former triangle resistance (line that extends off of the April and September highs…the line was resistance in October). Resistance turned support is bullish so a constructive view is appropriate as long as last week’s low is in place. A drop below would shift focus to long term slope that was support in May, August, and October. If THAT breaks, then the bull has left the building.