Forex Analysis: US Dollar Classic Technical Report 01.03.2013
Prices are testing above resistance at 10044, the 32.8%Fibonacci expansion. This barrier is reinforced by rising trend line support-turned-resistance at 10064. A break above the latter level aims for the 50% level at 10082. Initial support is at 9995, the 23.6% expansion, with a reversal below that exposing a rising trend line at 9933.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.