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
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