Prices are consolidating above support at the 23.6% Fibonacci retracement (9993), a barrier reinforced by a rising trend line set from the October 17 low (10009). Initial resistance is at 10071, the November 16 high, with a push above that targeting the 38.2% Fib expansion at 10123. Alternatively, a drop below 9993 exposes the 38.2% Fib at 9945.

Forex_Analysis_US_Dollar_Classic_Technical_Report_11.23.2012_body_Picture_5.png, Forex Analysis: US Dollar Classic Technical Report 11.23.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed