US Dollar Technical Analysis: Buyers Reclaim Momentum

Ilya Spivak
August 2, 2013

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.

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dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Buyers Reclaim Momentum
dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Buyers Reclaim Momentum

Daily Chart - Created Using FXCM Marketscope 2.0

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

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