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Forex: US Dollar Technical Analysis – Upside Breakout at Risk

Forex: US Dollar Technical Analysis – Upside Breakout at Risk

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices retesting resistance-turned-support at a falling channel top (10705)
  • Break downward initially targets the August 12 low at 10652
  • Resistance at 10796 (23.6% Fib exp); break above that targets 10886 (38.2% Fib)

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket onMirror Trader **

dailyclassics_us_dollar_index_body_Picture_3.png, Forex: US Dollar Technical Analysis – Upside Breakout at Risk

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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