US Dollar Technical Analysis: Trend Line Support in Focus
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.
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 firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.