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Talking Points
- A bearish Dark Cloud Cover pattern hints 1.6235 (23.6% Fib exp.) is a possible double top
- Initial support is at 1.5918 (23.6% retracement); a break lower exposes 1.5707 (38.2% Fib)
- A turn above 1.6235 targets 1.6446 (38.2% Fib expansion)
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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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