Prices are edging lower from resistance at the 1.63 figure, with negative RSI divergence hinting a larger reversal lower is ahead. Initial resistance-turned-support is at 1.6177, with a break below that targeting 1.6099.
Daily 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