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US Dollar Index - Former Resistance Provides Support

US Dollar Index - Former Resistance Provides Support

2016-11-15 20:09:00
Jamie Saettele, CMT, Sr. Technical Strategist
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US Dollar Index - Former Resistance Provides Support

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The rally post-election has covered the entire channel and then some. Monday’s close settled above channel resistance, indicating potential for upside acceleration (could be a ‘blow-off’). The importance of the break through resistance is accentuated by the fact that channel resistance (former now) was support today.

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