U.S. Markets open in 7 hrs 1 min

USDOLLAR Contends with 7/11 Low at 10757

Jamie Saettele, CMT


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

Interested in automated trading with Mirror Trader

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

Subscribe to Jamie Saettele'sdistribution list in order to receive actionable FX trading strategy delivered to your inbox. Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.