Prices are testing resistance at 0.9785, the 50% Fibonacci expansion, with a break higher exposing the 61.8% boundary at 0.9871. Initial support lines up at 0.9698, the 38.2% Fib, with a break below that exposing minor support at the June 28 high (0.9678) followed by the 23.6% level at 0.9591 .
8hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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