Forex: US Dollar Technical Analysis – Bullish Breakout at Hand?
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- Prices are testing above resistance in the 10582-604 area (falling channel top, 38.2% Fib ret.)
- A break higher initially targets 10682 (50% Fib retracement)
- Turning back into the channel sees initial support at 10509 (23.6% Fib ret.)
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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