Prices are testing resistance at 0.8102, the 23.6% Fibonacci retracement. A break higher targets trend line support-turned-resistance at 0.8124. Near-term support is at 0.8075, the 38.2% Fib. A drop below that exposes the 50% retracement at 0.8053.
8hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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