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