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Forex: US Dollar Technical Analysis – 2-Week Low Holds Up

Forex: US Dollar Technical Analysis – 2-Week Low Holds Up

2013-08-20 12:16:00
Ilya Spivak, Head Strategist, APAC
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US Dollar Technical Analysis Prices are edging higher from support at 10650, the August 8 low. Near-term resistance is at 10708,the 23.6% Fibonacci expansion, with a break above that targeting the 38.2% level at 10744. Alternatively, a move below support eyes the bottom of a falling channel set from early July, now at 10606.

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_4.png, Forex: US Dollar Technical Analysis – 2-Week Low Holds Up

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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