Forex Analysis: US Dollar Classic Technical Report 10.30.2012
Prices remain wedged between resistance-turned-support at the upper boundary of a falling channel set from the June 1 high (9892) the 38.2% Fibonacci retracement at 9963. A break higher exposes the 50% Fib at 10032. Alternatively, a drop below support targets rising trend line support at 9862.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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