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17 Jul 2013
USD index treading water above key Fibo 82.62
FXstreet.com (Barcelona) - The US Dollar index spot (DXY) is last trading above the 82.60 level, off recent weekly lows around the 82.45 mark, on the back of Asia-Pacific demand across the board.
USD index trading in between Fibos
According to IFR Markets analyst Duncan Balsbaugh, “the Dixie could not get back to the 8-day moving average trading pivot now downward sloping at 83.48,” once the index bounced after the nasty sell off seen following Bearnanke's speech, the analyst said. “With that failure, the buck break lower has seen trading within the 38.2% Fibo retracement and 50% Fibo – 83.12 to 82.62 – of the big move from June 19 (80.49) to July 09 (84.75)," Balsbaugh concluded.
USD index key technical levels
Immediate support to the downside for USD index lies at recent session lows 82.52, followed by yesterday's/Thursday's lows at 82.42/39, and June 25 lows at 82.24. To the upside, closest resistance shows at June 24 highs 82.84, followed by Monday's lows at 82.88, and April 24 highs at 83.19.
USD index trading in between Fibos
According to IFR Markets analyst Duncan Balsbaugh, “the Dixie could not get back to the 8-day moving average trading pivot now downward sloping at 83.48,” once the index bounced after the nasty sell off seen following Bearnanke's speech, the analyst said. “With that failure, the buck break lower has seen trading within the 38.2% Fibo retracement and 50% Fibo – 83.12 to 82.62 – of the big move from June 19 (80.49) to July 09 (84.75)," Balsbaugh concluded.
USD index key technical levels
Immediate support to the downside for USD index lies at recent session lows 82.52, followed by yesterday's/Thursday's lows at 82.42/39, and June 25 lows at 82.24. To the upside, closest resistance shows at June 24 highs 82.84, followed by Monday's lows at 82.88, and April 24 highs at 83.19.