Daily chart shows that few days ago price broke out of a channel.


First support we see between 38.2 and 50% Fibonacci (1), where you can see blue horizontal level, which is previous high from 24. January 2014.

Next support is upper line of a channel, which could intersect with 50% Fibonacci retrace and then up again (2).

At 78.6 Fibonacci retrace we have role reversal = blue marked horizontal level and very close there is also WPP at 1.5376, which is additional confluence to long it there.

In EU tomorrow there is no major red news, in AU we have Private Capital Expenditure q/q news in a few hours.

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