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US Dollar Technical Analysis 02.01.2013

US Dollar Technical Analysis 02.01.2013

Ilya Spivak, Head Strategist, APAC

US Dollar Technical Analysis- Prices turned lower as expected after putting in a Shooting Star candlestick below resistance marked by the 61.8% Fibonacci expansion (10181) and a rising channel top (10200). Near-term support lines in up in the 10141-53 area, marked by a former resistance level and the 50% Fib. A break below that exposes the 38.2% level at 10124.

Forex_US_Dollar_Technical_Analysis_02.01.2013_body_Picture_1.png, US Dollar Technical Analysis 02.01.2013

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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