Forex: US Dollar Technical Analysis – Recovery Meets Resistance
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- Prices are testing support in the 10494-509 area (falling trend line, 23.6% Fib ret.)
- Break higher targets 10604 (38.2% Fib retracement)
- Near-term supports are at 10424 (March-May bottom), 10354 (Oct 23 low)
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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