US Dollar Technical Analysis: 12-Year High in the Crosshairs
To receive Ilya's analysis directly via email, please SIGN UP HERE
- US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
- Support: 12076, 12052, 12028
- Resistance:12105, 12153, 12201
The Dow Jones FXCM US Dollar Index moved upward as expected after completing a Triangle chart formation. A daily close above the 76.4% Fibonacci expansion at 12105 exposes the 12149-53 area (March 13 high, 100% level). Alternatively, a turn below the 61.8% Fib at 12076 opens the door for a challenge of the 50% expansion at 12052.
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.