Prices are consolidating after taking out support in the 1.0195-98 area, with sellers now challenging 1.0158. A break below this boundary exposes the 50% Fibonacci retracement at 1.0122. Alternatively, a reversal back through resistance initially exposes 1.0231.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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