Prices put in a Spinning Top candlestick below resistance at 82.51, the 76.4% Fibonacci retracement, hinting a pullback may be ahead. Near-term support is at 81.48, the 61.8% level, a drop below that targeting the 80.54-65 area. Alternatively, a break above resistance exposes the March 15 high at 84.17.
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
