US Dollar Technical Analysis– Prices recovered after putting in a Hammer candlestick above support in the 10424-28 area marked by the 23.6% Fibonacci retracement and the March 22 close. Near-term resistance is at 10576, the March 11 high, with a break above that targeting the 38.2% Fib expansion at 10655. Alternatively, a drop below 10424 exposes the 38.2% expansion at 10428.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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