Prices are testing above resistance at 1.0289, the 50% Fibonacci retracement level, with a confirmed break higher exposing the 61.8% level at 1.0365. Near-term support lines up at 1.0237, the broken top of a falling channel set from the July 5 high, and is reinforced by the 38.2% Fib at 1.0213.
8hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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