US Dollar Classic Technical Report 09.21.2012
Prices are testing through near-term channel support set from the September 14 low, hinting downside pressure may be preparing to re-emerge. A break lower sees initial support at 9783, the 23.6% Fibonacci expansion. Near-term resistance is at 9857, the 38.2% Fib retracement level, with a break above that exposing the channel top (now at 9867).
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.