Prices are testing above resistance at 0.9450, a barrier reinforced by the 38.2% Fibonacci retracement at 0.9503. A push above the latter level targets the 50% Fib at 0.9592. Initial trend line support stands at 0.9361, with a break beneath that exposing the 0.9213-38 area.
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