US Dollar: Another 4-Year High Set
Dailyfx | Oct 01, 2014 02:45AM ET
Talking Points:
- US Dollar Technical Strategy: Holding Long
- Support: 11043, 11016, 10990
- Resistance:11130, 11200, 11269
The Dow Jones FXCM US Dollar Index is working on a seventh consecutive advance, with prices extending to a new four-year high. A daily close above the 38.2% Fibonacci expansion at 11130 exposes the 50% level at 11200. Alternatively, a reversal back below the 23.6% Fib at 11043 clears the way for a test of rising trend line support at 11016.
We remain broadly bullish on the US Dollar against its leading counterparts in line with our long-term fundamental outlook . As such, we remain long.
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