Prices are testing above resistance at 0.8117, the 38.2% Fibonacci retracement, with a break above that targeting a rising channel top at 0.8159 and the 50% level at 0.8166. Channel support is at 0.8100, with a break below that aiming for the 23.6% Fib at 0.8057.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE