US Dollar Technical Analysis: Reversal Lower Resuming?
Dailyfx | Apr 24, 2015 08:19AM ET
Talking Points:
- US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
- Support: 11950, 11899, 11860
- Resistance:11989, 12027, 12066
The Dow Jones FXCM US Dollar Index appears to be resuming its downward reversal after retesting broken trend line support as resistance. Near-term support is at 11950, the 50% Fibonacci retracement, with a break below that on a daily closing basis exposing the 61.8% level at 11899. Alternatively, a rebound above the 14.6% Fib expansion at 11989 clears the way for a test of the 23.6% threshold at 12027.
Our Mirror Trader US Dollar currency basket .
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