Prices are testing resistance at 89.63, the 61.8% Fibonacci expansion. Initial support lines up at 89.09, the 50% expansion, with a break below that aiming for the 38.2% level at 88.55. Alternatively, a push above resistance aims for the psychologically significant 90.00 figure and the 76.4% Fib at 90.30.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Investment & Company Information