Prices are turning lower from resistance in the 0.7950-85 area, with sellers aiming to retest a falling trend line set from the late-February top (0.7857). A break below that targets swing lows at 0.7812 and 0.7751. Alternatively, a close above 0.7985 initially exposes 0.8124.

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