Prices put in a Bearish Engulfing candlestick pattern below resistance at 0.8095, hinting at a possible double top. Initial support lines up at 0.8028, the 23.6% Fibonacci retracement, with a break below that exposing the 38.2% level at 0.7975. Alternatively, a reversal above resistance targets 0.8141.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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