High: Low:
The pair broke through trend resistance from the December 2013 top as well as the 50-day SMA yesterday. This morning, the pair is testing 38.2% Fibo resistance in the Nov-Dec 2013 wave at 1.3665 and a close above would open up for a test of 1.37 before 1.3740. With daily Stochastics, we could see upside being challenged by range traders, but don’t expect significant offers before 1.3740-area. In the bigger picture, the pair is still stuck in the 50%-61.8% Fibo retracements in the 2011 high -2012 low wave.