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Forex: US Dollar Technical Analysis – Dollar Bottom in Place?

Forex: US Dollar Technical Analysis – Dollar Bottom in Place?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Morning Star candlestick patter, positive RSI divergence hint a rebound is ahead
  • Initial resistance is at 10539 (23.6% Fib); a break higher exposes 10591 (38.2% Fib)
  • Near-term support lines up at 10469, the June 13 swing bottom

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 – Dollar Bottom in Place?

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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