Prices are consolidating between 0.9913 and 0.9940, the 38.2% and 50% Fibonacci retracement. A drop through support opens the door for a retest of falling channel resistance-turned-support at 0.9847. Alternatively, a break of resistance targets the 61.8% level at 0.9967.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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