US Dollar Classic Technical Report 09.28.2012
Prices turned lower after putting in an Inverted Hammer candlestick below resistance at 9857, the 38.2% Fibonacci retracement. Sellers now aim to challenge the bottom of a falling channel set from the June 1 high, now at 9727. A push beyond that targets the February 8 swing low at 9672. Alternatively, a break above resistance initially exposes the 50% Fib at 9893.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. 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 firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.