US Dollar Technical Analysis: Trend Line Cuts Off Bounce
US Dollar Technical Analysis– Prices overturned a bullish Morning Star candlestick pattern identified yesterday, recoiling from falling trend line resistance set from the July 8 swing high to challenge support at 10739, the 50% Fibonacci retracement. A break beneath this boundary exposes the 61.8% level at 10675. Trend line resistance is now at 10793, with added reinforcement from the 38.2% Fib at 10803.
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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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