Forex Analysis: US Dollar Classic Technical Report 01.14.2013
Prices turned lower from resistance at the top of a rising channel set from mid-September, taking out near-term support at smaller channel bottom to expose the 50% Fibonacci retracement at 10038. A further push below that aims for the 61.8% level at 10009. Near-term resistance is at 10066, the 23.6% retracement, followed by the channel bottom at 10082.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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