US Dollar Classic Technical Report 10.02.2012
Prices edged above resistance at 9857, the 38.2% Fibonacci retracement, with the bulls now challenging the top of a minor rising channel set from mid-September. This barrier is reinforced by the 50% Fib at 9893, with a break above the latter level exposing the 61.8% retracement at 9929. The 9857 level has been recast as near-term support, with a push back below that targeting the channel bottom at 9798.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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