Forex Analysis: US Dollar Classic Technical Report 11.16.2012

DailyFX

Prices took out resistance at the top of a rising channel established from mid-September, exposing the 61.8% Fibonacci retracement at 10038. A push above that targets the 76.4% retracement at 10109. The channel top – now at 10021 – has been recast as support, with a push back below that aiming for the 50% level at 9982.

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Forex_Analysis_US_Dollar_Classic_Technical_Report_11.16.2012_body_Picture_5.png, Forex Analysis: US Dollar Classic Technical Report 11.16.2012

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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