USDOLLAR Contends with 7/11 Low at 10757

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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Contends with 7/11 Low at 10757

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The USDOLLAR has turned up from a trendline / channel line confluence. The recent low also occurred at the 6/19 (FOMC day) close. Near term, price contends with the 7/11 low (like USDJPY). 10875-10900 is going to be the most difficult to overcome for bears. 10680 is still support.

FOREX Trading Strategy: Flat

LEVELS: 10586 10644 10680 10768 10862 10875

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com.  Follow me on Twitter for real time updates @JamieSaettele

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