US Dollar Technical Analysis– Prices put in a Dark Cloud Cover candlestick pattern, hinting a move lower may be ahead. Negative RSI divergence reinforces the case for a downside scenario. Initial trend line support is at 10788 and is reinforced by the 23.6% Fibonacci retracement at 10763. A break below that targets the 38.2% level at 10694. Near-term resistance is at 10876, the May 23 high.

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

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