US Dollar Technical Analysis– Prices pulling back from resistance at the top of a rising channel set from early February eyeing support marked by the formation’s bottom and the 76.4% Fibonacci expansionat 10505. A break below this boundary broadly exposes the 61.8% level at 10359. The channel top is now at 10608, with a push above that eyeing the 100% expansion at 10741.Negative RSI divergence continues to argue for a downside scenario.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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