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Talking Points

• Prices broke resistance at 160.90 (50% Fib exp.), exposing 162.37 (61.8% Fib)

• Reversing back below 160.90 aims for 159.44 (38.2% Fib, trend line from Aug)

• A further break higher targets 164.18 (76.4% Fib expansion)

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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