US Dollar Technical Analysis– Prices broke resistance at 10504, the 76.4% Fibonacci expansion, with buyers now testing the top of a rising channel top set from early February (now at 10583). A break above that aims for the 100% expansion at 10741. Negative RSI divergence warns of ebbing bullish momentum and hints a reversal downward may be ahead. The 10504 level has been recast as support, with a drop back below that aiming for the channel bottom at 10463.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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