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US Dollar Technical Analysis 02.04.2013

US Dollar Technical Analysis 02.04.2013

2013-02-04 08:37:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis- Prices recovered from support in the 10141-53 area, marked by a former resistance level and the 50%Fibonacci expansion, to challenge the top of a rising channel set from mid-September (10201). A break above this boundary targets the 76.4% Fib at 10216. Near-term support is at the 61.8% level (10181), with a reversal below that eyeing the 10141-53 region anew.

Forex_US_Dollar_Technical_Analysis_02.04.2013_body_Picture_1.png, US Dollar Technical Analysis 02.04.2013

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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