US DOLLAR TECHNICAL ANALYSIS – Prices launched a swift recovery after dipping to the lowest level in a month. A daily close above 12027, the intersection of trend line support-turned-resistance and the 23.6% Fibonacci expansion, exposes the 38.2% level at 12089. Alternatively, a move below the 14.6% expansion at 11989 opens the door for a challenge of the 50% Fib retracement at 11950. S&P 500 TECHNICAL ANALYSIS – Prices continue to hover below resistance in the 2111.00-19.40 area (23.6% Fibonacci expansion, February 25 high). A break above that on a daily closing basis exposing the 38.2% level at 2154.90. ... (full story)