Prices narrow broke above the 50% Fibonacci expansion at 1.3223 to expose the 61.8% level at 1.3354. A push above that aims for the 76.4% level at 1.3520. The 1.3223 level has been recast as near-term support, with a drop back below that aiming for the 38.2% mark at 1.3090.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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