Prices have mounted a recovery from rising trend line support (now at 0.8108) to retest a horizontal barrier at 0.8154. A break above this level targets a rising channel top at 0.8238. Alternatively, a reversal lower through the trend line targets the channel’s lower boundary at 0.8034.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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