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US Dollar Index Classical Technical Report 05.22

US Dollar Index Classical Technical Report 05.22

2012-05-22 06:37:00
Joel Kruger, Technical Strategist
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daily_classical_dxy_body_dxy.png, US Dollar Index Classical Technical Report 05.22

US DOLLAR INDEX:The market has now taken out some major resistance by 10,100 to open the door for fresh upside and a bullish continuation over the coming weeks. Next key resistance comes in by the 10,300 area, although, with daily studies now overbought, look for opportunities to buy on dips back towards 10,000 where a fresh higher low is now sought out.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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