Prices are testing support at 1.0225 marked by the April 11 low and the bottom of a rising channel carved out since late June. A break lower initially exposes swing lows at 1.0099 and 0.9968. Near-term resistance lines up at 1.0313, with a break above that exposing 1.0473.

Daily 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