US Dollar Breaks Critical Support, SPX 500 Keeps Going Higher

 US DOLLAR TECHNICAL ANALYSIS – Prices broke below rising trend line set from September 2012, hinting the medium-term trend has changed gears. Prices are testing initial support at 10525, the 38.2% Fibonacci expansion, with a break below that targeting the 50% level at 10497. Alternatively, a reversal back above the trend line (now at 10563) eyes the February 27 high at 10615.

P 500 TECHNICAL ANALYSIS – Prices are testing resistance at 1883.80 marked b the 38.2% Fibonacci expansion and a rising channel top. A break above this boundary exposes the 50% level at 1899.20. Alternatively, a reversal below support at 1864.80, the 23.6% Fib, aims for the channel bottom at 1853.10.