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US Dollar Technical Analysis 02.05.2013

Ilya Spivak

US Dollar Technical Analysis Prices put in a Shooting Star candlestick below the top of a rising channel set from mid-September (10205), hinting a move lower is ahead. Near-term support is at 10181, the 61.8% Fibonacci retracement, with a break below that exposing the 50% level at 10153. Alternatively, a move above resistance initially eyes the 76.4% expansion at 10216.

Forex_US_Dollar_Technical_Analysis_02.05.2013_body_Picture_1.png, US Dollar Technical Analysis 02.05.2013

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

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