Prices staged a mild recovery from neckline support established from late October (now at 9927) to retest trend line support-turned-resistance at 9956. A break above that aims for the 23.6% Fibonacci expansion at 9995. Alternatively, a drop below neckline support eyes the channel bottom at 9866.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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