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Talking Points

• Prices are approaching support 0.8299-0.8314 (Nov7 low, 61.8% Fib exp) once again

• A break downward initially exposes 0.8251 (76.4% Fib expansion)

• Reversing above channel resistance at 0.8356 targets 0.8367 (23.6% Fib retracement)

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Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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