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US Dollar Technical Analysis 02.26.2013

US Dollar Technical Analysis 02.26.2013

Ilya Spivak, Head Strategist, APAC

US Dollar Technical Analysis Prices pulled back from resistance at the top of a rising channel set from early February to test 14.6% Fibonacci retracement support at 10367. This barrier is reinforced by the channel bottom. Negative RSI divergence warns of weakness ahead, with a break downward initially exposing the 23.6% level at 10320. Channel top resistance is now at 10459.

Forex_US_Dollar_Technical_Analysis_02.26.2013_body_Picture_5.png, US Dollar Technical Analysis 02.26.2013

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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