US Dollar Technical Analysis: Signs of Turn Lower Emerge
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. Early signs of negative RSI divergence warn of ebbing bullish momentum however and hint a turn lower may be ahead. The 10946 mark has been recast as near-term support, with a move back beneath that aiming for the 10848-77 area (marked by the late-May top).
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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