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Forex: US Dollar Technical Analysis – Sellers Retake the Initiative

Forex: US Dollar Technical Analysis – Sellers Retake the Initiative

2013-09-11 10:28:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Break of rising counter trend line hints the down trend from July’s top is resuming
  • Near-term support is at 10673 (38.2% Fib exp.); break below that targets 10631 (50% Fib)
  • Resistance at 10726 (23.6% Fib), followed by a falling channel top now at 10777

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 – Sellers Retake the Initiative

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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