Forex Analysis: US Dollar Classic Technical Report 01.11.2013

Prices broke through support at 10059, the 23.6% Fibonacci retracement. Sellers now aim to challenge the 38.2% level at 9998, with a push below that targeting rising channel support at 9963. The 10059 level has been recast as resistance. A reversal back above that sees channel top resistance at 10133.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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