Forex: US Dollar Technical Analysis – Treading Water at Support
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- Prices are testing support at 10374 (50% Fibonacci expansion)
- A break lower targets 10323-31 region (June 2012 high, 61.8% Fib)
- Above resistance in the 10416-24 area (April bottom, 38.2% Fib) exposes 10468 (23.6% Fib)
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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