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Talking Points:

• US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **

• Support: 10959, 10845, 10753

• Resistance:11143, 11216, 11308

The Dow Jones FXCM US Dollar Indexappears to be on track to resume its longer-term rising trend after completing a Flag continuation pattern last week. A daily close above the 11102-43 area marked by the 23.6% Fibonacci expansion and the October 3 high exposes the 38.2% level at 11216. The appearance of a Shooting Star candle warns a near-term pullback may be in the cards however. A turn below the 10959-78 zone (rising trend line, 23.6% Fib retracement) clears the way for a test of the 38.2% threshold at 10845.

We remain broadly bullish on the US Dollar against its leading counterparts in line with ourlong-term fundamental outlook. As such, we remain long via theMirror Trader US Dollar currency basket.

Daily Chart - Created Using FXCM Marketscope 2.0

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

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

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