Forex: US Dollar Technical Analysis – Rejected at Channel Top
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices are testing below support in the 10707-27 area(Dec 19 high, 23.6% Fib exp.)
- A break lower on a daily closing basis exposes 10646 (channel bottom)
- Near-term resistance is in the in the 10761-66 area (38.2% Fib exp., 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
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? START HERE!
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.