US Dollar Technical Analysis: Prices Drop Most in 3 Months
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- US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
- Support: 10844, 10800, 10765
- Resistance:10914, 10984
The Dow Jones FXCM US Dollar Indexsnapped a six-day advance with the largest daily decline in three months. A daily close below the 76.4% Fibonacci expansion at 10844 exposes the 61.8% level at 10800. Alternatively, a push above the 10898-914 area marked by the September 16 high and the 100% Fib at clears the way for a test of the 123.6% expansion at 10984.
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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.