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Forex Analysis: US Dollar Classic Technical Report 12.06.2012

Forex Analysis: US Dollar Classic Technical Report 12.06.2012

Ilya Spivak, Head Strategist, APAC

Prices broke through support at the bottom of a rising channel set from mid-September, exposing the 23.6% Fibonacci expansion at 9933. A sustained push below that targets the 38.2% level at 9849. Channel bottom support-turned-resistance is now at 9978.

Forex_Analysis_US_Dollar_Classic_Technical_Report_12.06.2012_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 12.06.2012

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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