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Forex: US Dollar Technical Analysis – Channel Support Holds Up

Forex: US Dollar Technical Analysis – Channel Support Holds Up

2013-11-15 09:44:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices pulled back to retest 10565 (falling channel top, horizontal barrier from September)
  • A break lower targets 10492, November 6 low
  • Above resistance at 10653 (23.6% Fib exp.) exposes 10839 (38.2% Fib exp.)

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

dailyclassics_us_dollar_index_body_Picture_3.png, Forex: US Dollar Technical Analysis – Channel Support Holds Up

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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