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Forex Analysis: US Dollar Classic Technical Report 12.28.2012

By , Currency Strategist
28 December 2012 03:33 GMT

Prices broke resistance at 10044, the 32.8%Fibonacci expansion, after completing a bullish Flag chart pattern. The bulls now target the 50% level at 10082, with a break above that aiming for the 61.8% Fib at 10122. The 10044 mark has been recast as near-term support. A reversal back below that aims for the 23.6% expansion at 9995.

Forex_Analysis_US_Dollar_Classic_Technical_Report_12.28.2012_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 12.28.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

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28 December 2012 03:33 GMT