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US Dollar Classic Technical Report 08.10.2012

US Dollar Classic Technical Report 08.10.2012

Ilya Spivak, Head Strategist, APAC

Prices are rebounding from support at a major rising trend line established from late July 2011, a barrier reinforced by the 76.4% Fibonacci expansion (9995) and the bottom of a falling channel set from early June (9971). Near-term resistance is at 10038, the 61.8% Fib, with a push above that targeting the channelmidline (now at 10073). Alternatively, a breach of support exposes the 100% expansion at 9925.

US_Dollar_Classic_Technical_Report_08.10.2012_body_Picture_5.png, US Dollar Classic Technical Report 08.10.2012

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.