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US Dollar Technical Analysis: Correction Lower Hinted

US Dollar Technical Analysis: Correction Lower Hinted

2013-06-26 03:38:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis Prices put in a Harami candlestick pattern below resistance at 10781, the 76.4% Fibonacci retracement, hinting a pullback may be ahead. Initial support is at 10721, the 61.8% level, with a drop beneath that eyeing the 50% Fib at 10673. Alternatively, a move above resistance aims for the May 29 swing high at 10877.

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Correction Lower Hinted

Daily Chart - Created Using FXCM Marketscope 2.0

--- 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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