Forex: US Dollar Technical Analysis – Rebound Stalls at Channel Top
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- Spinning Top candle below 10792 (23.6% Fib expansion, falling channel top) hints at turn lower
- Break below support at 10760 exposes downside targets at 10693 (7/29 low) and 10646 (8/16 low)
- Daily close above resistance exposes the next key hurdle at 10886 (38.2% Fib)
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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