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US Dollar Technical Analysis: Near-Term Uptrend Broken

Ilya Spivak

US Dollar Technical Analysis Prices turned lower as expected, with sellers testing below support at 10803, the 38.2% Fibonacci retracement. A break downward on a daily closing basis exposes the 50% level at 10739. Near-term resistance is at 10882, the 23.6% level, with a move back above that eyeing the July 8 swing high at 11009.

dailyclassics_us_dollar_index_body_Picture_3.png, US Dollar Technical Analysis: Near-Term Uptrend Broken

Daily Chart - Created Using FXCM Marketscope 2.0

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

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