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USDOLLAR Holds 20 DMA but Resistance at 11475

Jamie Saettele, CMT

DailyFX.com -

Daily

USDOLLAR Holds 20 DMA but Resistance at 11475
USDOLLAR Holds 20 DMA but Resistance at 11475

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“USDOLLAR is pressing against the line that extends off of the June and October highs and overlapping highs and lows since early November indicate slowing momentum and a market vulnerable to a pullback. 11344 is possible support, followed by 11220.”

-“Watch for support at 11340/50. A break there would suggest a move towards 11200.” Near term (next day or 2), watch for support near 11400 and resistance near 11475.

--Trading ideasare available to J.S. Trade Desk members.

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