Forex: US Dollar Technical Analysis – Buyers Back in Control
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- Prices are edging higher as expected after showing a Piercing Line candle pattern
- Closing above 10718 (horizontal pivot) exposes 10756 (Jan 21 high)
- Turning below 10661 (23.6% Fib ret, channel floor) targets 10602 (38.2% Fib ret.)
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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