Prices are testing support at 0.9826, the 61.8% Fibonacci expansion. A break below that targets the 76.4% level at 0.9792, a barrier reinforced by the 0.98 figure. Near-term resistance is at 0.9853, the 50% Fib, with a bounce above that eyeing the 38.2% expansion at 0.9880.
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