Prices found support at 10059, the 23.6% Fibonacci retracement. A bounce from here sees initial channel top resistance at 10133, with a break above that targeting the January 4 high at 10158. Alternatively, a drop through support exposes the 38.2% level at 9998.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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