Prices put in a Shooting Star candlestick below resistance at 1.0077, the 61.8% Fibonacci retracement, hinting a move lower is ahead. Initial support is at 1.0026, the 50% Fib, with a break below that exposing the parity figure and the 38.2% mark at 0.9976. Alternatively, a reversal above resistance aims eyes the 76.4% resistance at 1.0138.

Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed