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