Daily Forex Report: US Dollar Still Range-Bound

US DOLLAR TECHNICAL ANALYSIS – Prices rose as expected after putting in a bullish Piercing Line candlestick pattern. A break above range resistance at 10706 targets 10727, the December 19 high, followed by a rising channel top at 10750. Alternatively, a move below range support at 10646 exposes the channel bottom at 10631.

S&P 500 TECHNICAL ANALYSIS – Prices are testing support at 1828.14, the 23.6% Fibonacci retracement. A break downward initially exposes 1815.18, the 38.2% level. Near-term resistance is at 1849.10, the December 30 swing high.