Prices rebounded from support at 1.0225, marked by the April 11 low and the bottom of a rising channel carved out since late June, to retest resistance at 1.0313. A break higher exposes 1.0473. Alternatively, a push lower through 1.0225 initially targets swing lows at 1.0099 and 0.9968.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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