US Dollar Technical Analysis: Prices Drop for Fifth Day
US Dollar Technical Analysis– Prices continued to push lower after taking out support at a rising trend line set from mid-June, with sellers now challenging the 76.4% Fibonacci expansion at 10656. A break below this barrier exposes the 100% level at 10581. Near-term resistance is at 10702, the 61.8% Fib, followed by the 50% expansion at 10739.
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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