US Dollar Classic Technical Report 08.14.2012
Prices continue to stall at key support marked by a rising trend line established from late July 2011 (10003) and the 76.4% Fibonacci expansion (9995). A push lower from here exposes the 100% expansion at 9925. Near-term resistance is in the 10038-49 area, marked by the 61.8% Fib and a falling trend line set from the July 12 high, with a break above that initially targeting 10096.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. 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 firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.