US Dollar Technical Analysis: Another 4-Year High Set
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- US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
- Support: 11043, 11016, 10990
- Resistance:11130, 11200, 11269
The Dow Jones FXCM US Dollar Index is working on a seventh consecutive advance, with pricesextending to a new four-year high. A daily close above the 38.2% Fibonacci expansion at 11130 exposes the 50% level at 11200. Alternatively, a reversal back below the 23.6% Fib at 11043 clears the way for a test of rising trend line support at 11016.
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.