US Dollar Technical Analysis– Prices advanced as expected after completing a bullish Flag chart pattern. A break above initial resistance at 10820, the 23.6% Fibonacci expansion, has exposed the 38.2% level at 10899. A further push above that targets the 50% Fib at 10963. The 10820 mark has been recast as near-term support.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Basic Materials Industry
- Finance Trading