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Forex Analysis: US Dollar Classic Technical Report 11.20.2012

Forex Analysis: US Dollar Classic Technical Report 11.20.2012

2012-11-20 12:36:00
Ilya Spivak, Head Strategist, APAC
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Prices pulled back toward support at 9993, the 23.6% Fibonacci retracement reinforced by a rising trend line set from the October 17 low. A break below this barrier targets the 38.2% Fib at 9945. Near-term resistance is at 10071, the November 16 high, with a reversal above that targeting the 38.2% Fib expansion at 10123.

Forex_Analysis_US_Dollar_Classic_Technical_Report_11.20.2012_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 11.20.2012

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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