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US Dollar Classic Technical Report 08.23.2012

US Dollar Classic Technical Report 08.23.2012

Ilya Spivak, Head Strategist, APAC

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.

US_Dollar_Classic_Technical_Report_08.23.2012_body_Picture_5.png, US Dollar Classic Technical Report 08.23.2012

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.