US Dollar Technical Analysis 03.11.2013
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
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.