Prices are testing below support at 0.9138, the 38.2% Fibonacci retracement. A break below this boundary on a daily closing basis initially exposes the 50% level at 0.9088. Near-term resistance is at 0.9201, marked by the 23.6% Fib, with a reversal back above that eyeing a falling trend line now at 0.9250.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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