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Forex: US Dollar Technical Analysis – Direction Cues Still Absent

Forex: US Dollar Technical Analysis – Direction Cues Still Absent

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Consolidation continues below trend line support-turned-resistance (10590)
  • 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

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 – Direction Cues Still Absent

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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