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Talking Points

• A Shooting Star candle below channel resistance hints at a turn lower ahead

• Near-term support is at 1.3485 (23.6% Fib); below that aims for 1.3407 (38.2% Fib)

• Resistance is in the 1.3600-12 (channel bottom, Nov 27 high); we continue to hold short

Confirm your chart-based trade setups with the Technical Analyzer.

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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