US Dollar Technical Analysis: Support Found at 2-Week Low
To receive Ilya's analysis directly via email, please SIGN UP HERE
- US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
- Support: 11887, 11839, 11790
- Resistance: 11922, 11959, 12018
The Dow Jones FXCM US Dollar Index found interim support and mounted a cautious recovery after declining to a two-week low. A daily close below the 38.2% Fibonacci retracement at 11887 exposes the 50% level at 11839. Alternatively, a rebound above the 14.6% Fib expansion at 11922 clears the way for a test of the 23.6% threshold at 11959.
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.