US Dollar Technical Analysis: 2-Month Trend Line Broken
US Dollar Technical Analysis– Prices took out support at a rising trend line set from mid-June, with sellers now aiming to challenge the 61.8% Fibonacci expansion at 10702. A break below this barrier exposes the 76.4% level at 10656. Near-term resistance is at 10739, the 50% Fib, followed by the trend line (now at 10751).
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
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