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