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US Dollar Technical Analysis: Trend Line Keeps Bulls at Bay

US Dollar Technical Analysis: Trend Line Keeps Bulls at Bay

Ilya Spivak, Head Strategist, APAC

US Dollar Technical Analysis Prices are testing falling trend line resistance set from the July 8 high (now at 10860), with a break above that targeting the 23.6% Fibonacci retracement at 10882. Near-term support is in the 10790-803 area, marked by the 38.2% level and the June 24 high. A move beneath that initially eyes the 50% Fib at 10739.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_us_dollar_index_body_usdindex.png, US Dollar Technical Analysis: Trend Line Keeps Bulls at Bay

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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