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Forex: US Dollar Technical Analysis – Upside Bias Still in Place

Forex: US Dollar Technical Analysis – Upside Bias Still in Place

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are retesting resistance-turned-support at 10509 (23.6% Fib retracement)
  • Break lower targets 10480 (falling trend line from late September)
  • Resistance at 10588-604 area (channel top, 38.2% Fib); above that eyes 10682 (50% Fib)

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket onMirror Trader **

dailyclassics_us_dollar_index_body_Picture_11.png, Forex: US Dollar Technical Analysis – Upside Bias Still in Place

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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