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US Dollar Classic Technical Report 07.04.2012

US Dollar Classic Technical Report 07.04.2012

2012-07-04 03:04:00
Ilya Spivak, Head Strategist, APAC
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Prices are consolidating above support in the 10037-49 area, with resistance seen at 10087 marked by the 23.6% Fibonacci expansion. A break above this level targets the 38.2% level at 10112. Alternatively, a push below support exposes the 61.8% Fibonacci retracement of the 4/30-6/1 advance at 10010 as well as the 10000 figure.

US_Dollar_Classic_Technical_Report_07.04.2012_body_Picture_5.png, US Dollar Classic Technical Report 07.04.2012

Dow Jones FXCM US Dollar Index - 4hr 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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