Prices are bouncing from support at a rising trend line set from late July (102.81). Resistance lines up at 104.61. Support is reinforced by the 23.6% Fibonacci retracement at 102.11. A break below that exposes the 38.2% level at 100.58.
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