Prices broke through the top of a rising channel set from the September 14 swing low to challenge the 61.8% Fibonacci retracement at 9929. A further break above this boundary targets falling trend line resistance at 9965. The channel top (now at 9909) has been recast as support, with a push back below that eyeing the 50% retracement at 9893.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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