USDOLLAR Pops; Resistance Estimated at 10643

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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Pops; Resistance Estimated at 10643

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The USDOLLAR has bounced from the topside of the former corrective channel that formed in late 2012. Today’s advance reversed at the line that extends off of the 5/29 and 6/10 highs. Exceeding that level opens up 10643/73 (will be monitoring these levels for the USDJPY trade).

FOREX Trading Strategy: Flat

LEVELS: 10391 10443 10491 10586 10643/73 10721

--- 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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