US Dollar Technical Analysis– Prices recovered from rising trend line support to challenge resistance at 10879, the 23.6% Fibonacci expansion. A break above that exposes the 38.2% level at 10948. Negative RSI divergence continues to warn of ebbing upward momentum however. Trend line support is now at 10793, with a turn below that initially targeting the 23.6% Fib retracement at 10763.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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