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
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