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Forex: US Dollar Technical Analysis – Channel Support in Focus

Forex: US Dollar Technical Analysis – Channel Support in Focus

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • 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)

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

dailyclassics_us_dollar_index_body_Picture_3.png, Forex: US Dollar Technical Analysis – Channel Support in Focus

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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