Prices broke above resistance at 85.45, the 100% Fibonacci expansion. The bulls now target the 123.6% level at 86.33. The 85.45 level has been recast as near-term support, with a drop below that exposing the 76.4% mark at 84.55.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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