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Forex Analysis: US Dollar Classic Technical Report 01.15.2013

Forex Analysis: US Dollar Classic Technical Report 01.15.2013

Ilya Spivak, Head Strategist, APAC

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 10091.

Forex_Analysis_US_Dollar_Classic_Technical_Report_01.15.2013_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 01.15.2013

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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