U.S. Markets close in 5 hrs 38 mins

US Dollar Classic Technical Report 09.21.2012

Ilya Spivak

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).

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.