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- Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
- Near-term resistance is at 0.9509 (38.2%); a break above that eyes 0.9714 (50% Fib)
- The first major layer of support is at 0.9344, the June 26 high. We continue to holdlong
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
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