Prices are testing support at 0.9235, the 50% Fibonacci retracement. A break below that targets the 61.8% level at 0.9199. Near-term resistance is at 0.9271, the 38.2% Fib, with a push above that exposing the 0.93 figure and the 23.6% retracement at 0.9316.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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