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US Dollar Classic Technical Report 07.11.2012

US Dollar Classic Technical Report 07.11.2012

Ilya Spivak, Head Strategist, APAC

Prices are consolidating below 10174, the 50% Fibonacci retracement, after taking out falling trend lineresistance set from late May. A break higher initially exposes targets the 61.8% level at 10209. Near-term support is marked by the trend line (now at 10144) and reinforced by the 38.2% Fib at 10139.

US_Dollar_Classic_Technical_Report_07.11.2012_body_Picture_5.png, US Dollar Classic Technical Report 07.11.2012

Dow Jones FXCM US Dollar Index - Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.