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US Dollar Technical Analysis: Prices Dip to 10-Day Low

US Dollar Technical Analysis: Prices Dip to 10-Day Low

2013-07-12 12:09:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis Prices turned lower as expected, with sellers now testing support at 10803 marked by the 38.2% Fibonacci retracement. A break downward on a daily closing basis exposes the 50% level at 10739. Near-term resistance is at 10882, the 23.6% level, with a move back above that eyeing the July 8 swing high at 11009.

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Prices Dip to 10-Day Low

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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