US Dollar Technical Analysis 02.28.2013
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 (10377). 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 10483.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.