Prices are pulling back after testing resistance at 0.8104, the 50%Fibonacci expansion. Initial support lines up at 0.8060, the 38.2% Fib, with a break below that targeting the 23.6% level at 0.8008. Alternatively, a push above resistance exposes the 61.8% expansion at 0.8104.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to firstname.lastname@example.org