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Talking Points
- Prices fell as expected having shown a Bearish Engulfing candle pattern; we are short
- Above resistance in the 1.3762-76 (23.6% Fib, trend line) exposes 1.3821 (38.2% Fib)
- Below support at 1.3680 (trend line) targets 1.3624 (Dec 20 swing low)
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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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