Prices are testing support at 1.0136, the 38.2%Fibonacci expansion. A break below that exposes the parity level and the 50% level at 0.9986. Initial resistance is at 1.0322, the 23.6% Fib, with a break back above that exposing major trend line resistance at 1.0538.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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