Prices are testing rising trend line support set from late July (1.3016). A break below that aims for the December 7 low at 1.2875. Near-term resistance is at 1.3129, the September 14 closing top, and reinforced by the 23.6% Fibonacci expansion at 1.3150. A break above that aims for the 38.2% level at 1.3244.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE