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Forex: US Dollar Technical Analysis – Two-Year Uptrend Back On?

Forex: US Dollar Technical Analysis – Two-Year Uptrend Back On?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Break of 2-month trend resistance hints at resumption of uptrend from August 2011
  • Near-term resistance now at 10828 (50% Fib); break above that eyes 10870 (61.8% Fib)
  • Support is now at 10785 (38.2% Fib), followed by the channel top now at 10763

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 – Two-Year Uptrend Back On?

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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