US Dollar Technical Analysis 06.03.2013
US Dollar Technical Analysis – Prices moved lower as expected, with prices taking out rising channel support after completing a Bearish Engulfing candlestick pattern. Sellers now aim to challenge the 38.2% Fibonacci retracement level at 10694, with a move beneath that exposing the 50% Fib at 10638. Channel support-turned-resistance is now at 10804.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE