Prices broke support in the 0.9213-38 region, exposing the 50% Fibonacci expansion at 0.9133. A break below that targets the 61.8% level at 0.9044. The 0.9213-38 area has been recast as resistance, with a push back above that targeting the 0.9381-0.9402 region.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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