Prices are testing resistance at 84.54, the 50% Fibonacci expansion, with a confirmed break higher exposing the 61.8% level at 85.14. Near-term support is at 83.83, the 38.2% expansion. A drop below that targets the 23.6% Fib at 83.01.
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
