Forex: US Dollar Technical Analysis – Selloff Ready to Resume?
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Bearish Engulfing candle pattern below trend line resistance (10587) hints at weakness
- Near-term support at 10469 (June 13 low); below that targets 10413 (March 25 low)
- Reversal above resistance aims for the August 16 low at 10646
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
New to FX? Watch this Video
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.