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Talking Points
- Prices are testing resistance in the 103.37-76 area (Dec 3 high, 23.6% Fib expansion)
- Breaking higher targets 104.76 (38.2% Fib exp); negative RSI diverge warns of reversal
- Support is at 101.77 (23.6% Fib ret.); below that exposes 100.78 (38.2% Fib ret.)
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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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