Prices turned lower as expected after putting in a Shooting Star candlestick below resistance marked by the 61.8% Fibonacci expansion (10181) and a rising channel top (10194). Sellers are testing initial support near 10153, the 50% level, with a sustained push below that targeting the 38.2% Fib at 10124. Alternatively, a push above the channel top exposes the 76.4% expansion at 10216.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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