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US Dollar Technical Analysis: Trend Line Support in Focus

US Dollar Technical Analysis: Trend Line Support in Focus

2013-08-07 10:08:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis Prices pulled back to test support at 10772, the 14.6%Fibonacci expansion. This barrier is reinforced by a rising trend line set from mid-June (10744), with a break below that eyeing the July 29 low at 10693. Near-term resistance is at 10820,the 23.6% Fib. A push above that targets the 38.2% expansion at 10899.

Don’t have access to the Dow Jones FXCM US Dollar Index? Try the USD basket via Mirror Trader as an alternative. **

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Trend Line Support in Focus

Daily Chart - Created Using FXCM Marketscope 2.0

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

--- 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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