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US Dollar Technical Analysis: Chart Setup Favors Losses

US Dollar Technical Analysis: Chart Setup Favors Losses

2013-07-30 10:49:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis Prices are retesting broken support-turned-resistance at 10739, the 50% Fibonacci retracement, to challenge a falling trend line set from the July 8 swing high (now at 10762). A break above the latter barrier exposes the 38.2% level at 10803. Near-term support remains at 10675, the 61.8% Fib.

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

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Chart Setup Favors Losses

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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