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US Dollar Technical Analysis: Another 3-Year High Ahead?

US Dollar Technical Analysis: Another 3-Year High Ahead?

Ilya Spivak, Head Strategist, APAC

US Dollar Technical Analysis Prices narrowly edged above resistance at 10980, the 100% Fibonacci expansion, opening the door for a move higher to challenge the 123.6% level at 11101. The 10980 mark has been recast as near-term support. A reversal back beneath that aims for the 76.4% expansion at 10859.

dailyclassics_us_dollar_index_body_Picture_6.png, US Dollar Technical Analysis: Another 3-Year High Ahead?

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

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