Prices took out resistance at 1.0199, the 38.2% Fibonacci retracement, to reclaim a hold on the 1.02 figure. Buyers now aim to challenge 1.0231, with a break above that exposing the 23.6% Fib at 1.0293. The 1.02 boundary has been recast as support, with a break back below that exposing 1.0158.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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