Prices broke above the 23.6% Fibonacci retracement at 0.9295, exposing the 38.2% level at 0.9425. The 0.9295 level has been recast as support, with a drop back below that aiming for a formerly broken trend line set from early November (now at 0.9233).
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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