Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The USDOLLAR key reversal on Monday occurred just shy of channel resistance so don’t rule out a final new high to test the channel but 10500 may not prove so easy to leave behind (9500 and 10000 were battleground levels). The 2012 high at 10323 is probably support now.
FOREX Trading Strategy: Flat
LEVELS: 10323 10391 10427 10519 10576 10611
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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Jamie is the author of Sentiment in the Forex Market.