Prices broke resistance at 10044, the 32.8%Fibonacci expansion, after completing a bullish Flag chart pattern. The bulls now target the 50% level at 10082, with a break above that aiming for the 61.8% Fib at 10122. The 10044 mark has been recast as near-term support. A reversal back below that aims for the 23.6% expansion at 9995.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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