Forex Analysis: US Dollar Classic Technical Report 12.27.2012

Prices are testing above resistance at 10044, the 32.8%Fibonacci expansion, after completing a bullish Flag chart pattern. A break higher exposes the 50% level at 10082. Near-term support is at 9995, the 23.6% Fib, with a drop below that aiming for trend line resistance-turned-support at 9967.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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