Forex Analysis: US Dollar Classic Technical Report 12.19.2012
Prices broke rising trend line support set from the mid-September bottom, exposing a neckline barrier at 9927. A further drop below that exposes the bottom of a Flag formation at 9870. Trend line support-turned-resistance is at 9952, a barrier reinforced by the Flag top. A push above that aims for the 23.6% Fibonacci expansion at 9995.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.