Prices are stalling between support at 0.8193 and a falling trend line set from late-August 2011, now at 0.8344. A break above this barrier exposes the top of a rising channel established from the May 2012 lows at 0.8455. Alternatively, a reversal through support targets 0.8047, a horizontal barrier reinforced by the channel bottom.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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