US Dollar Technical Analysis: Further Weakness Likely Ahead
US Dollar Technical Analysis– Prices continue to play out a bearish reversal identified two weeks ago, taking out support in the 10790-803 area to expose the 50% Fibonacci retracement at 10739. A further push beneath that targets the 61.8% level at 10675. Alternatively, a reversal back above 10803 sees trend line resistance at 10826.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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