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Forex Analysis: US Dollar Classic Technical Report 11.28.2012

Forex Analysis: US Dollar Classic Technical Report 11.28.2012

Ilya Spivak, Head Strategist, APAC

Prices broke below the 23.6% Fibonacci retracement at 9993 to challenge the bottom of a rising channel set from mid-September (now at 9968). A break below this boundary initially exposes the 38.2% level at 9945. Alternatively, a break back above 9993 aims for the November 16 high at 10071.

Forex_Analysis_US_Dollar_Classic_Technical_Report_11.28.2012_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 11.28.2012

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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