Forex: US Dollar Technical Analysis – Still Looking for Direction
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US Dollar Technical Analysis– Prices put in a Spinning Top candlestick below resistance at 10760, the recent range top marked by the August 13 high, hinting a move lower may be ahead. Range support is at 10569, with a break below that targeting the bottom of a falling channel set from early July (now at 10575). A reversal above 10760 aims for the channel top at 10792.
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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