US Dollar Chart Setup Points to Bounce From Key Support

From dailyfx.com

US Dollar technical positioning hints the greenback is on the verge of staging a recovering from major support underpinning prices from late August 2011. S&P 500 – Prices continue to consolidate between 1399.10 and 1409.00, the 61.8% and 76.4% Fibonacci retracement levels. A break higher exposes the late March to early April swing top in the 1419.90-1424.90 area. Alternatively, a push through near-term support targets the 50% Fib at 1391.20. CRUDE OIL – Prices took out resistance in the 104.90-105.15 area marked by a former support as well as the 50% Fibonacci retracement level to meet a ... (full story)