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Forex Analysis: US Dollar Classic Technical Report 12.17.2012

By , Currency Strategist
17 December 2012 12:57 GMT

Prices broke rising trend line support set from the mid-September bottom, exposing a neckline barrier at 9925. A further drop below that exposes the bottom of a Flag formation at 9881. Near-term resistance is at 9963, the Flag top, with a break above that aiming for the 23.6% Fibonacci expansion at 9995.

Forex_Analysis_US_Dollar_Classic_Technical_Report_12.17.2012_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 12.17.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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17 December 2012 12:57 GMT