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Forex: US Dollar Technical Analysis – 16-Month Support Eyed

Forex: US Dollar Technical Analysis – 16-Month Support Eyed

2013-10-24 12:04:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke support in the 10391-424 area (April bottom), exposing June 2012 high (10323)
  • The 10391-424 region has now been recast as near-term resistance
  • Turning back above 10424 targets 10469, the June 2013 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 – 16-Month Support Eyed

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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