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US Dollar Technical Analysis: Rally Stalls at 3-Year High

US Dollar Technical Analysis: Rally Stalls at 3-Year High

2013-07-09 04:12:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis Prices broke above resistance at 10946, the 100% Fibonacci expansion, opening the door for a move higher to challenge the 123.6% level at 11016. The 10946 mark has been recast as near-term support. A reversal back beneath that aims for the 10848-77 area marking the late-May swing top.

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Rally Stalls at 3-Year High

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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