FOREX ANALYSIS: US Dollar Classic Technical Report 10.25.2012
Prices pulled back from 9963, the 38.2% Fibonacci retracement, to retest resistance-turned-support at the upper boundary of a falling channel set from the June 1 high (9904). The move appears corrective, with overall positioning still favoring a broadly bullish bias. A push through 9963 targets the 50% Fib at 10032. Alternatively, a drop below support targets rising trend line support at 9852.
Daily Chart - Created Using FXCM Marketscope 2.0
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