Prices are testing through support at a rising trend line set from late July (102.73) to challenge the 23.6% Fibonacci retracement at 102.11. A break below that exposes the 38.2% level at 100.58. Near-term resistance lines up at 104.61.
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