Forex: US Dollar Technical Analysis – Channel Top in Focus
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices are testing resistance in the 10586-604 area (falling channel top, 38.2% Fib ret.)
- A break higher targets 10682 (50% Fib retracement)
- Support is at 10509 (23.6% Fib ret.); below that eyes 10473 (trend line from September)
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
New to FX? START HERE
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.