Prices are consolidating between 0.9854, the March 1 close, and the 14.6% Fibonacci retracement at 0.9929. A push through support targets the April 27 close at 0.9801. Alternatively, a break above resistance exposes the 23.6% Fib at 0.9983 and the parity figure.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to email@example.com