Yahoo Finance 
US Dollar Technical Analysis: Consolidating at Monthly Lows
DailyFX.com -
To receive Ilya's analysis directly via email, please SIGN UP HERE
Talking Points:
US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
Support: 11854, 11679, 11534
Resistance:11965, 12149, 12221
The Dow Jones FXCM US Dollar Index turned lower as expected, with prices digesting losses near monthly lows. A daily close below the 11854-78 area (March 2009 high, 14.6% Fibonacci expansion) exposes the 11679-737 region (February 26 low, 38.2% Fib retracement). Alternatively, a reversal back above the 23.6% level at 11965 clears the way for a test of the 12107-49 zone (38.2% expansion, March 13 high).
We remain broadly bullish on the US Dollar against its leading counterparts in line with ourlong-term fundamental outlook. As such, we remain long via theMirror Trader US Dollar currency basket.
Add these technical levels directly to your charts with our Support/Resistance Wizard app!
Daily Chart - Created Using FXCM Marketscope
** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.
