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US Dollar Technical Analysis 05.01.2013

US Dollar Technical Analysis 05.01.2013

2013-05-01 09:31:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis Prices broke support at a rising trend line set from late February to challenge the 10424-28 area marked by the 23.6% Fibonacci retracement and the March 22 close. A break beneath that aims for the 38.2% level at 10330. Trend line support-turned-resistance is now at 10461.

Forex_US_Dollar_Technical_Analysis_05.01.2013_body_Picture_5.png, US Dollar Technical Analysis 05.01.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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--- 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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