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