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US Dollar Technical Analysis: Prices Drop for Fifth Day

US Dollar Technical Analysis: Prices Drop for Fifth Day

2013-08-09 06:39:00
Ilya Spivak, Head Strategist, APAC
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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.

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: Prices Drop for Fifth Day

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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