Prices broke resistance at 0.9247, the 38.2%Fibonacci retracement. The bulls now aim to challenge the 50% level at 0.9297, with a push beyond that targeting the 61.8% Fib at 0.9348. The 0.9247 mark has been recast as near-term support. A reversal back below that eyes the 23.6% retracement at 0.9184.
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