US Dollar Technical Analysis: Interim Support Holds for Now
US Dollar Technical Analysis– Prices found support at 10656, the 76.4% Fibonacci expansion, after taking out a rising trend line set from mid-June. Near-term resistance is at 10702, the 61.8% Fib, followed by the 50% expansion at 10739. Alternatively, a reversal below support exposes the 100% level at 10581.
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 email@example.com. 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.