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US Dollar Technical Analysis 02.20.2013

US Dollar Technical Analysis 02.20.2013

Ilya Spivak, Head Strategist, APAC

US Dollar Technical Analysis– Prices are turning lower as expected, with a break below near-term rising trend line support initially exposing the 23.6% Fibonacci retracement at 10252. This barrier is reinforced by a longer-term trend line as well as the former of top of an upward-sloping channel. Near-term resistance is at 10355, the February 18 high.

Forex_US_Dollar_Technical_Analysis_02.20.2013_body_Picture_5.png, US Dollar Technical Analysis 02.20.2013

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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