Prices took out resistance at 102.79, with the bulls now aiming to challenge the September 17 high at 103.85. A further push above that level targets the 105.00 figure and 105.54. The 102.79 level has been recast as support. A drop back below that aims for a rising trend line set from the late-July swing bottom, now at 101.25.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to email@example.com
- Investment & Company Information