US Dollar Technical Analysis 03.15.2013
US Dollar Technical Analysis– Prices turned lower as expected, taking out support at the bottom of a rising channel set from late January. Sellers now aim to challenge the 23.6% Fibonacci retracement at 10471, with a break beneath that exposing the 38.2% level at 10406. The channel bottom (now at 10518) has been recast as resistance. A move back above that targets the March 8 high at 10575.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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