Prices put in a bearish Evening Star candlestick pattern after re-testing a rising trend line set from the September 14 low, hinting a move lower is ahead. Initial support is at 9783, the 23.6% Fibonacci expansion, with a break beneath that exposing the 38.2% expansion at 9738. Trend line resistance is now reinforced by the 38.2%retracement at 9857, with a push above that targeting the 50% barrier at 9893.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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