Prices are consolidating between 0.9854, the March 1 close, and the 14.6% Fibonacci retracement at 0.9929. A push through support targets the April 27 close at 0.9801. Alternatively, a break above resistance exposes the 23.6% Fib at 0.9983 and the parity figure.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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