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Forex Analysis: US Dollar Classic Technical Report 12.20.2012

Forex Analysis: US Dollar Classic Technical Report 12.20.2012

2012-12-20 11:19:00
Ilya Spivak, Head Strategist, APAC
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Prices staged a mild recovery from neckline support established from late October (now at 9927) to retest trend line support-turned-resistance at 9956. A break above that aims for the 23.6% Fibonacci expansion at 9995. Alternatively, a drop below neckline support eyes the channel bottom at 9866.

Forex_Analysis_US_Dollar_Classic_Technical_Report_12.20.2012_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 12.20.2012

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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