US Dollar Classic Technical Report 09.21.2012

DailyFX

Prices are testing through near-term channel support set from the September 14 low, hinting downside pressure may be preparing to re-emerge. A break lower sees initial support at 9783, the 23.6% Fibonacci expansion. Near-term resistance is at 9857, the 38.2% Fib retracement level, with a break above that exposing the channel top (now at 9867).

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US_Dollar_Classic_Technical_Report_09.21.2012_body_Picture_5.png, US Dollar Classic Technical Report 09.21.2012

4hr Chart - Created Using FXCM Marketscope 2.0

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

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