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Forex: US Dollar Technical Analysis – Treading Water at Support

Forex: US Dollar Technical Analysis – Treading Water at Support

2013-10-28 07:10:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • 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)

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 – Treading Water at Support

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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