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US Dollar Classic Technical Report 07.12.2012

US Dollar Classic Technical Report 07.12.2012

Ilya Spivak, Head Strategist, APAC

Prices are approaching 38.2% Fibonacci expansion resistance at 10219, with a break above this boundary exposing the 50% barrier at 10279. Near-term support lines up at 10145 at the 23.6% expansion and is reinforced by a falling trend line set from early June, now at 10138.

US_Dollar_Classic_Technical_Report_07.12.2012_body_Picture_5.png, US Dollar Classic Technical Report 07.12.2012

Dow Jones FXCM US Dollar Index - 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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