US Dollar Classic Technical Report 08.23.2012
Prices punched through long-term rising trend line support set from early August 2011 to test the bottom of a falling channel set from late May, with a break to the downside exposing the lower boundary of a steeper channel at 9916. The trend line, now at 10020, has been recast as near-term resistance, with a break above that exposing 10062.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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