Prices are pulling back as expected after finding resistance at 1.0289, the 50%Fibonacci expansion. Near-term support lines up at 1.0213, the 38.2% level. Alternatively, a break higher exposes the 61.8% Fib at 1.0366.

4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com