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US Dollar Classic Technical Report 09.28.2012

US Dollar Classic Technical Report 09.28.2012

Ilya Spivak, Head Strategist, APAC

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.

US_Dollar_Classic_Technical_Report_09.28.2012_body_Picture_5.png, US Dollar Classic Technical Report 09.28.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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