Prices are testing above resistance at 0.8275, the 76.4% Fibonacci expansion, with a confirmed break higher on a daily closing basis exposing the 100% level at 0.8372. Near-term rising channel resistance-turned-support is at 0.8246, with a turn below that aiming for the 0.8215-20 region.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE