Forex: US Dollar Technical Analysis – Range Bottom Threatened
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- Prices rose as expected after putting in a bullish Piercing Line candle pattern
- A break below 10640-46 (range bottom, 23.6% Fib ret.) exposes 10585 (38.2% Fib)
- Moving above range resistance (10718) targets 10755 (rising channel top)
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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