Prices are consolidating above support at a rising trend line set from early June, with resistance marked by the 23.6% Fibonacci expansion at 79.83. A break above this boundary exposes the 38.2% level at 80.25. Trend line support is now at 79.38.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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