US Dollar Classic Technical Report 10.18.2012
Prices turned lower after putting in a Harami candlestick pattern below resistance marked by the top of a falling channel set from the early June high. Sellers have now broken rising trend line support set from the September 14 low, to challenge the 23.6% Fibonacci expansion at 9835. A push below that exposes the 38.2% retracement at 9765. Resistance is now in the 9909-25 area.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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