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USDOLLAR No Man’s Land; Trading Levels are 12040 and 11730s

USDOLLAR No Man’s Land; Trading Levels are 12040 and 11730s

2016-04-05 18:42:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USDOLLAR No Man’s Land; Trading Levels are 12040 and 11730s

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The USDOLLAR index is currently in no-man’s land. The next big support is probably 11730s (February, April, and June lows) and important resistance probably isn’t until near 12040 (December low, 200 and 55 day averages, possible channel resistance). The market is roughly equidistant from cited support and resistance thus rendering operations at the current juncture unfavorable.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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