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Forex Analysis: US Dollar Classic Technical Report 11.21.2012

Forex Analysis: US Dollar Classic Technical Report 11.21.2012

2012-11-21 13:28:00
Ilya Spivak, Head Strategist, APAC
Share:

Prices are retesting support near the 23.6% Fibonacci retracement (9993), a barrier reinforced by a rising trend line set from the October 17 low (9985). A break below the latter level 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_11.21.2012_body_Picture_5.png, Forex Analysis: US Dollar Classic Technical Report 11.21.2012

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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