Prices broke above 50% Fibonacci expansion resistance at 1.3320, exposing the 61.8% level at 1.3397. A further push above that targets the 76.4% Fib at 1.3492. The 1.3220 level has been recast as near-term support. A reversal back below that aims for the 38.2% expansion at 1.3244.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Investment & Company Information