Forex: US Dollar Technical Analysis – Attempting a Recovery

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Talking Points

  • Prices are testing above resistance at in the 10416-24 area (April bottom, 38.2% Fib)
  • Break higher on a daily closing basis exposes 10468 (23.6% Fib)
  • Support at 10374 (50% Fib); below that targets 10323-31 region (Jun’12 high, 61.8% Fib)

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket onMirror Trader **

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dailyclassics_us_dollar_index_body_Picture_10.png, Forex: US Dollar Technical Analysis – Attempting a Recovery

Daily Chart - Created Using FXCM Marketscope 2.0

** 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

Contact and follow Ilya on Twitter: @IlyaSpivak

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