RELATED QUOTES

SymbolPriceChange
^USDOLLAR12,023.66+31.96

THE TAKEAWAY:The US Dollar has stalled below technical resistance as the S&P 500 has once again managed to hold up above the stubbornly resilient 1400 level.

US DOLLAR TECHNICAL ANALYSIS Prices narrowly edged though resistance-turned-support at 9963, the 38.2% Fibonacci retracement. Sellers now aim to target 9868-77 area, marked by a rising channel bottom set from mid-September and a falling channel top established from the June 1 high. Resistance is at the 10000 figure, with a break above that aiming for the 50% Fib at 10032.

Forex_Analysis_US_Dollar_Stalls_at_Resistance_as_SP_500_Bounces_body_Picture_5.png, Forex Analysis: US Dollar Stalls at Resistance as S&P 500 Bounces

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices are retesting support-turned-resistance in the 1424.90-30.90 area, with a break higher aiming to challenge the underside of a rising channel set from the June 4 swing low (now at 1450.30). Near-term support lines up at the 1400 figure, with added reinforcement offered by the 38.2% Fibonacci retracement at 1394.30. A drop below the latter level targets the 50% Fib at 1369.40.

Forex_Analysis_US_Dollar_Stalls_at_Resistance_as_SP_500_Bounces_body_Picture_6.png, Forex Analysis: US Dollar Stalls at Resistance as S&P 500 Bounces

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices bounced from support at 1671.83, the 50% Fibonacci retracement level reinforced by a rising trend line set from late June, to reclaim a foothold above the 1700/oz figure. The bulls now aim to challenge the 23.6% retracement at 1737.29. Near-term support is at 1701.09, the 38.2% Fib.

Forex_Analysis_US_Dollar_Stalls_at_Resistance_as_SP_500_Bounces_body_Picture_7.png, Forex Analysis: US Dollar Stalls at Resistance as S&P 500 Bounces

Daily Chart - Created Using FXCM Marketscope 2.0

Want to learn more about RSI? Watch this Video.

CRUDE OIL TECHNICAL ANALYSIS Prices shot higher to take out resistance at 87.66, the 38.2%Fibonacci expansion, exposing falling trend line set from late September (now at 91.09) as the next upside barrier. This is reinforced by the 23.6% expansion at 92.53, with a break above that aiming for long-term trend line resistance at 96.37. The 87.66 level has been recast as near-term support, with a drop below that eyeing the 50%Fib at 83.76.

Forex_Analysis_US_Dollar_Stalls_at_Resistance_as_SP_500_Bounces_body_Picture_8.png, Forex Analysis: US Dollar Stalls at Resistance as S&P 500 Bounces

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

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3686+0.0052+0.38%
    USDSGD=X
    1.5031-0.0052-0.34%
    EURSGD=X
    2.1359+0.007+0.33%
    GBPSGD=X
    90.5856-0.0704-0.08%
    SGDJPY=X
    5.6636-0.0213-0.37%
    SGDHKD=X
    2.7823-0.0086-0.31%
    SGDMYR=X
    9,856.4307+6.4131+0.07%
    SGDIDR=X
    4.5371-0.0172-0.38%
    SGDCNY=X
    0.9983-0.0031-0.31%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,096.00-0.20-0.02%
    GCQ15.CMX
    14.78+0.14+0.94%
    SIU15.CMX
    48.45+0.98+2.06%
    ^XAU
    2.41+0.01+0.35%
    HGU15.CMX
    48.71+0.73+1.52%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.61+0.02
    ^FVX
    2.28+0.03
    ^TNX
    2.99+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.3150.0000.00%
    5WA.SI
    0.136-0.005-3.55%
    5DN.SI
    0.325-0.015-4.41%
    E5H.SI
    0.88+0.05+6.02%
    5ME.SI
    0.37+0.04+12.12%
    Y35.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.36+0.06+18.03%
    UD2.SI
    0.134+0.018+15.52%
    40F.SI
    0.50+0.06+12.36%
    BAZ.SI
    0.37+0.04+12.12%
    Y35.SI
    1.12+0.12+12.00%
    AXL.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.23-0.05-17.86%
    AWS.SI
    0.24-0.05-17.24%
    E94.SI
    0.30-0.03-10.45%
    B49.SI
    0.127-0.012-8.63%
    5WH.SI
    0.14-0.01-7.89%
    583.SI