Prices were rejected lower from a confluence of resistance marked by the top of a falling channel established from the July 12 high (10030), the underside of a rising trend set from late July 2011 (10037), and the midline of a larger channel carved out since late May (10048). Initial channel support is at 9943, with a break below that exposing 9940. Alternatively, a break above 10048 exposes the channel top at 10144.
Dow Jones FXCM US Dollar Index - Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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