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US Dollar Classic Technical Report 09.03.2012

US Dollar Classic Technical Report 09.03.2012

2012-09-03 09:59:00
Ilya Spivak, Head Strategist, APAC
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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.

US_Dollar_Classic_Technical_Report_09.03.2012_body_Picture_5.png, US Dollar Classic Technical Report 09.03.2012

Dow Jones FXCM US Dollar Index - Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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