Forex: US Dollar Technical Analysis – Channel Support in Focus
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- Prices fell below 10718 (Dec 19 high), exposing 10648-61 (channel bottom, 23.6% Fib)
- A further push beneath that targets 10602 (38.2% Fib retracement)
- Back above 10718 exposes 10756-70 (Jan 21 high, 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
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