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US Dollar Technical Analysis 03.05.2013

US Dollar Technical Analysis 03.05.2013

2013-03-05 14:27:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis– Prices put in a Shooting Star candlestick below resistance marked by the intersection of a rising channel top (now at 10522) and the 76.4% Fibonacci expansion (10504), hinting at a pullback ahead. Channel support is now at 10415, with a move below that initially exposing the 61.8% Fib at 10359. Alternatively, a break higher broadly exposes the 100% level at 10741.

Forex_US_Dollar_Technical_Analysis_03.05.2013_body_Picture_5.png, US Dollar Technical Analysis 03.05.2013

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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