Prices are testing 50% Fibonacci expansion support at 0.8008, with a break lower exposing the 61.8% level at 0.7988. Near-term resistance lines up at 0.8028 marked by the 38.2% Fib, with a break above that targeting the 23.6% boundary at 0.8053.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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