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Forex: US Dollar Technical Analysis – Upside Breakout Attempted

Forex: US Dollar Technical Analysis – Upside Breakout Attempted

Ilya Spivak, Head Strategist, APAC

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US Dollar Technical Analysis

  • Break above range top resistance at 10760 exposes 10796 (23.6% Fib expansion, falling channel top)
  • A further push higher beyond resistance exposes the next key hurdle at 10886 (38.2% Fib)
  • The 10760 level has been recast as near-term support, followed by range bottom at 10646

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 – Upside Breakout Attempted

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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