Forex Analysis: US Dollar Classic Technical Report 01.08.2013
Prices pulled back as expected after putting in a Shooting Star candlestick below resistance at 10122, the 61.8%Fibonacci expansion. Near term support is at 10082, the 50% level. A drop below that exposes the 32.8%expansion at 10044. Alternatively, a break above resistance aims for the 76.4% Fib at 10170.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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