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US Dollar Technical Analysis: Bulls Take Aim at May Top

US Dollar Technical Analysis: Bulls Take Aim at May Top

Ilya Spivak, Head Strategist, APAC

US Dollar Technical Analysis Prices found interim support above a rising trend line set from late February and launched a sharp recovery, with the bulls now challenging the 76.4% Fibonacci retracement at 10781. A further push higher targets May 29 swing high at 10877. The 61.8% Fib at 10721 is acting as near-term support, with a reversal back beneath that eyeing the 50% retracement at 10673.

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Bulls Take Aim at May Top

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.