US Dollar Technical Analysis: Corrective Pullback Risk Remains
To receive Ilya's analysis directly via email, please SIGN UP HERE
- US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
- Support: 12107,11965, 11854
- Resistance:12221, 12335, 12477
The Dow Jones FXCM US Dollar Index may be losing steam after hitting a new 11-year high as signs of negative RSI divergence begin to emerge. A daily close back below the 38.2% Fibonacci expansionat 12407 exposes the 23.6% level at 11965. Alternatively, a push above the 50% Fib at 12221 opens the door for a challenge of the 61.8% expansion at 12335.
Add these technical levels directly to your charts with our Support/Resistance Wizard app!
Daily Chart - Created Using FXCM Marketscope
** 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.