Prices are testing support in the 0.8066-98 area, with a break lower exposing the 0.80 figure and the 50% Fibonacci retracement at 0.7962. Near-term resistance is at 0.8216, the underside of a previously broken rising channel set from late May, with a push above that targeting the 0.83 mark.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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