Prices are bouncing from support at a rising trend line set from late February (0.9255) to challenge resistance at 0.9328, the 61.8% Fibonacci retracement. A break higher exposes a falling trend line at 0.9409 and the 50% Fib at 0.9451. Alternatively, a push below the trend line targets the 76.4% retracement at 0.9176.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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