US Dollar Classic Technical Report 08.24.2012
US DOLLAR INDEX: Prices put in a Hammer candlestick above support at the bottom of a falling channel set from late May, hinting a rebound may be ahead. Initial resistance lines up at 10021 at the underside of a major rising trend set from the late-July 2011 bottom. A break above that targets the top of a steeper channel at 10061. Alternatively, a break below support exposes 9909.
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
