US Dollar Classic Technical Report 07.04.2012
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.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.