US Dollar Technical Analysis– Prices broke above resistance at 10946, the 100% Fibonacci expansion, opening the door for a move higher to challenge the 123.6% level at 11016. The 10946 mark has been recast as near-term support. A reversal back beneath that aims for the 10848-77 area marking the late-May swing top.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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