Prices are testing resistance at 0.8573, the 61.8% Fibonacci retracement. A break above that targets the 76.4% level at 0.8768. Near-term support is at 0.8416, the 50% Fib, with a drop below that eyeing rising channel resistance-turned-support at 0.8350.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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