USDOLLAR Drops Under Channel and April Low
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has traded below its yearlong trendline support, the April low at 9816 and the downward sloping channel. There is seemingly no support and the next levels of interest are 9738 and 9672. The April low at 9816 is now resistance.
LEVELS: 9672 9700 9740 9816 9850 9890
— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com