Forex: US Dollar Technical Analysis – Back at Monthly Highs
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- Prices bounced as expected from falling channel resistance-turned-support set from July
- A break above resistance at 10653 (23.6% Fib exp.) exposes 10839 (38.2% Fib exp.)
- Turning below the channel top (10499-527) aims for 10492 (November 6 low)
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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