Prices put in a bearish Three Inside Down candlestick pattern, hinting a move lower may be ahead. A break below 14.6% Fibonacci retracement support at 87.04 exposes the 23.6% level at 86.20. Near-term resistance is at 88.40, the January 4 high.
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