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US Dollar Technical Analysis: Buyers to Reclaim Dominance?

US Dollar Technical Analysis: Buyers to Reclaim Dominance?

Ilya Spivak, Head Strategist, APAC

US Dollar Technical Analysis Prices recovered to test falling trend line resistance set from the July 8 high (10800), completing a bullish Morning Star candlestick pattern. A break higher initially targets the 23.6% Fibonacci retracement at 10867. Near-term support is at 10740, the July 23 swing low.

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

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Buyers to Reclaim Dominance?

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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