US Dollar Technical Analysis: Win Streak Extends For 5th Day
Dailyfx | May 29, 2015 05:40AM ET
Talking Points:
- US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
- Support: 11960, 11898, 11836
- Resistance: 12037, 12149, 12214
The Dow Jones FXCM US Dollar Index continued to press upward, hitting the highest level in over a month. Near-term resistance is at 12037, the 76.4% Fibonacci retracement, with a break above that on a daily closing basis exposing the March 13 high at 12149. Alternatively, a reversal below the 61.8% Fib at 11960 opens the door for a challenge of the 50% retracement at 11898.
Our Mirror Trader US Dollar currency basket .
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