Prices are testing above resistance at 0.9345, the 14.6% Fibonacci retracement, after bouncing from a rising trend line set from late February. A break above this boundary initially targets the 23.6% Fib at 0.9411. Trend line support is now at 0.9271, with a push below that targeting the September 14 low at 0.9238.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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