EURUSD Classic Technical Report 07.23.2012
Prices are testing support at 1.2148, marked by the bottom of a falling channel set from late May and the 50% Fibonacci expansion level. A break below this boundary initially exposes the 61.8% Fib at 1.2004, a level reinforced by the psychological significance of the 1.20 figure. Near-term resistance lines up 1.2290, the 38.2% expansion.
Daily Chart - Created Using FXCM Marketscope 2.0
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