Prices broke resistance at 0.9212, the 14.6% Fibonacci retracement, to challenge the 23.6% level at 0.9292. A further push above this barrier aims for the 38.2% Fib at 0.9422. Alternatively, a reversal back below 0.9212 aims for channel top resistance-turned-support now at 0.9190.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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