Forex: US Dollar Technical Analysis – Looking for Direction Cues
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- Prices rose as expected after putting in a bullish Piercing Line candle pattern
- Above 10719 (23.6% Fib exp.) targets 10727 (Dec 19 high), 10746 (channel top)
- Near-term support is in the 10636-46 area (horizontal pivot, channel bottom)
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
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