Prices broke above resistance at 0.8275, the 76.4% Fibonacci expansion, exposing the 100% level at 0.8372. The 0.8275 level has now been recast as support, with a reversal back below that aiming for rising channel resistance-turned-support is at 0.8248.
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, please CLICK HERE