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US Dollar Classic Technical Report 09.05.2012

US Dollar Classic Technical Report 09.05.2012

2012-09-05 10:03:00
Ilya Spivak, Head Strategist, APAC
Share:

Prices are testing the now-familiar resistance cluster marked by the top of a falling channel established from the July 12 high (10018), the underside of a rising trend set from late July 2011 (10041), and the midline of a larger channel carved out since late May (10046). Initial channel support is at 9937, with a break below that exposing 9860. Alternatively, a push above 10046 targets the channel top at 10139.

US_Dollar_Classic_Technical_Report_09.05.2012_body_Picture_5.png, US Dollar Classic Technical Report 09.05.2012

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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