US Dollar Classic Technical Report 07.24.2012
Prices have extended a bounce from support in the 10032-67 area to apparently invalidate the previously completed bearish Flag chart formation. Buyers are now testing resistance at 10145, the 23.6% Fibonacci expansion, with a break above that exposing the 38.2% level at 10219. Support remains in the 10032-67.
--- 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.