Forex: US Dollar Technical Analysis – Sellers Retake the Initiative
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- 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
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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