US Dollar Technical Analysis: Trend Line Resistance Caps Gains

Ilya Spivak

US Dollar Technical Analysis Prices are pulling back from falling trend line resistance set from the July 8 high (now at 10844) to test support in the 10790-803 area, marked by the 38.2% Fibonacci retracement and the June 24 high. A break downward initially eyes the 50% Fib at 10739. Alternatively, a reversal above the trend line sees the next level of resistance at 10882, the 23.6% level.

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dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Trend Line Resistance Caps Gains
dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Trend Line Resistance Caps Gains

Daily Chart - Created Using FXCM Marketscope 2.0

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

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