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Forex: US Dollar Technical Analysis – Bulls Rejected at Resistance

Forex: US Dollar Technical Analysis – Bulls Rejected at Resistance

2013-11-27 12:14:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices declined as expected from the 10641-53 area (Jul 12 high, 23.6% Fib exp.)
  • Support is at 10589 (23.6% Fib ret.); breaking that exposes 10544 (38.2% Fib ret.)
  • A reversal above 10643 aims for the 38.2% Fib expansion at 10839

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

dailyclassics_us_dollar_index_body_Picture_12.png, Forex: US Dollar Technical Analysis – Bulls Rejected at Resistance

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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