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US Dollar Technical Analysis: Bullish Reversal Deepens

By , Currency Strategist
21 June 2013 11:13 GMT

US Dollar Technical Analysis Prices found interim support above a rising trend line set from late February and launched a recovery, with the bulls now challenging the 61.8% Fibonacci retracement at 10721. A further push higher targets the 76.4% level at 10781. The 50% Fib at 10673 is acting as near-term support, with a reversal back beneath that eyeing the 38.2% retracement at 10625.

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Bullish Reversal Deepens

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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21 June 2013 11:13 GMT