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Forex: US Dollar Technical Analysis – Sellers Regain the Upper Hand

Forex: US Dollar Technical Analysis – Sellers Regain the Upper Hand

2013-08-16 10:00:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis Prices recoiled from resistance at 10744, the 38.2% Fibonacci expansion, reversing through the 23.6% level at 10708 to expose the August 8 low at 10650 and falling channel bottom support at 10615. The 10708 mark has been recast as near-term resistance.

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, Forex: US Dollar Technical Analysis – Sellers Regain the Upper Hand

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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