Forex: US Dollar Technical Analysis – August Swing Low Revisited
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- Break of rising counter trend line hints the down trend from July’s top has resumed
- Near-term support is at 10631 (50% Fib exp.); break of that targets 10588 (61.8% Fib)
- Resistance at 10673 (38.2% Fib), followed by the 23.6% level at 10726
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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