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USD TECHNICAL ANALYSIS: Crosshairs Monthly Top

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The USD is at a crosshairs
POSTED BY:
Osmond

DATE:
11/19/2014

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Talking Points:
• USD TECHNICAL STRATEGY: LONG HOLDING
• SUPPORT: 11278, 112277, 11168
• RESISTANCE: 11315, 11374, 11422

The FXCM USD of Dow Jones Indexes attempts to reconstruct upside momentum after a moment of consolidation, with prices setting to challenge November's high. Near term resistance is at 11315, the 23.6% Fibonacci expansion, and a break over that on a daily closing basis would reveal the 38.2% level at 11374.
In other way, a change back under the 14.6% expansion at 11278 paves the way for a challenge of the 23.6% Fibonacci retracement at 11227.


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