US Dollar Technical Analysis: Pullback May Be in the Cards

From dailyfx.com

The Dow Jones FXCM US Dollar Indexmay be on the verge of a correction lower as negative RSI divergence points to ebbing bullish momentum. Near-term support is at 10931, marked by a rising trend line set from set from late August, with a break below that on a daily closing basis exposing the 14.6% Fibonacci retracement at 10875. Alternatively, a turn above the 14.6% Fib expansion at 10990 opens the door for a challenge of the 23.6% threshold at 11043. Our long-term US Dollar outlook calls for a broadly stronger US Dollar against its major currency counterparts. With that in mind, we are holding long via theMirror ... (full story)