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Forex Analysis: US Dollar Classic Technical Report 11.09.2012

Forex Analysis: US Dollar Classic Technical Report 11.09.2012

Ilya Spivak, Head Strategist, APAC

Prices continue to flirt with 9963, the 38.2% Fibonacci retracement. Support is reinforced by a rising trend line set from the October 17 low (9933). A drop below this barrier aims for a support cluster in the 9861-85 area. Channel resistance is at 10006, with a break above that aiming for the 50% Fib at 10032.

Forex_Analysis_US_Dollar_Classic_Technical_Report_11.09.2012_body_Picture_5.png, Forex Analysis: US Dollar Classic Technical Report 11.09.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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