Prices broke resistance at the 23.6% Fibonacci retracement at 0.8066, exposing the underside of a previously broken rising trend line set from late July (0.8088). A push above that aims for the 14.6% level at 0.8103. The 0.8066 level has been recast as support, with a drop below that aiming for the 38.2% retracement at 0.8006.
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, please CLICK HERE
- Investment & Company Information
- Fibonacci retracement