Forex: US Dollar Technical Analysis – Bulls Rejected at Resistance
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- 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
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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