Talking Points:
- US Dollar Technical Strategy: Holding Long
- Support: 10531, 10513, 10481
- Resistance:10560, 10606, 10663
The Dow Jones FXCM US Dollar Index is consolidating gains after turning higher as expected having put in a Bullish Engulfing candle pattern. A daily close above resistance at 10560, the 50% Fibonacci retracement, exposes the 61.8% level at 10606. Alternatively, a turn back below resistance-turned-support marked by the May 28 high at 10531 clears a path for a challenge of the 38.2% Fib at 10513.