Prices found support at a rising trend line set from late July and are bouncing to retest resistance at 104.61. A break above that exposes the 107.99 level. Trend line support is now at 102.41. A push below that exposes the 38.2% Fibonacci retracement at 100.58.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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