Prices are testing below rising trend line support set from the June 1 bottom, with a confirmed break on a daily close basis targeting swing lows at 1.5913 and 1.5822. Near-term resistance is marked by a horizontal pivot level at 1.6177. A break above that targets the 1.63 figure.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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