US Dollar Technical Analysis– Prices broke above resistance the top of a Flag chart pattern, hinting at bullish continuation ahead. Initial resistance is at 10820, the 23.6% Fibonacci expansion, with a break above that targeting the 38.2% level at 10899. Near-term support is at 10693, the July 29 swing low.
Confirm your chart-based trade setups with the Technical Analyzer.
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