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US Dollar Technical Analysis 02.22.2013

US Dollar Technical Analysis 02.22.2013

Ilya Spivak, Head Strategist, APAC

US Dollar Technical Analysis Prices pushed above the 61.8% Fibonacci expansion at 10358, exposing the 76.4% level at 10505. A Shooting Star candlestick warns a near-term pullback may occur before the rally resumes. The 10358 level has been recast as near-term support, with a turn back below that aiming for a rising trend line set from early February, now at 10346.

Forex_US_Dollar_Technical_Analysis_02.22.2013_body_Picture_5.png, US Dollar Technical Analysis 02.22.2013

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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