US Dollar Classic Technical Report 08.06.2012
Prices are testing support at a major rising trend line that has guided the greenback higher since late July 2011, a barrier reinforced by the bottom of a falling channel carved out over the past two months. A break lower would mark a material trend reversal and initially expose 9924. A bounce sees the first layer of resistance at 10041, with a push beyond that aiming for the channel midline at 10080.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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