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US Dollar Index Classical Technical Report 09.12

US Dollar Index Classical Technical Report 09.12

2011-09-12 06:45:00
Joel Kruger, Technical Strategist
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US_Dollar_index_Classical_body_dxy.png, US Dollar Index Classical Technical Report 09.12

US DOLLAR INDEX: The market remains very well supported on dips and is showing some clear signs of a material base. Key multi-week range resistance has been broken by 9,750 and we will look for a weekly close above this level to confirm our bullish outlook and accelerate gains towards a measured move objective by 10,000. Ultimately, only a weekly close back under 9,500 would give reason for concern.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

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