Forex: US Dollar Technical Analysis – 5-Month Support in Sight

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Talking Points

  • Prices are dipping to support in the 10570-88 area (trend line, 61.8% Fib)

  • Breaking lower targets a falling channel bottomset from July, now at 10539

  • Resistance is in the 10631-46 region (50% Fib, August 16 low)

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket onMirror Trader **

dailyclassics_us_dollar_index_body_Picture_3.png, Forex: US Dollar Technical Analysis – 5-Month Support in Sight
dailyclassics_us_dollar_index_body_Picture_3.png, Forex: US Dollar Technical Analysis – 5-Month Support in Sight

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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