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US Dollar Technical Analysis: May Swing High Targeted

US Dollar Technical Analysis: May Swing High Targeted

Ilya Spivak, Head Strategist, APAC

US Dollar Technical Analysis Prices are testing above resistance at 10781, the 76.4% Fibonacci retracement, with a break higher on a daily closing basis exposing the May 29 swing high at 10877. Initial support is at 10721, the 61.8% level. A drop beneath that eyes the 50% Fib at 10673.

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: May Swing High Targeted

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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