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Forex: US Dollar Technical Analysis – Risk of Pullback Hinted

Forex: US Dollar Technical Analysis – Risk of Pullback Hinted

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing resistance in the 10641-53 area (Jul 12 high, 23.6% Fib exp.)
  • Negative RSI divergence warns of a turn lower; support is at 10535 (Nov 20 low)
  • A break above resistance initially 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_11.png, Forex: US Dollar Technical Analysis – Risk of Pullback Hinted

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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