Prices are testing above the 61.8%Fibonacci expansion at 0.8150, with a confirmed break targeting the 76.4% level at 0.8177. Near-term support is at 0.8135, marked by a rising trend line set from the December 10 low. A reversal beneath that aims for the 50% Fib at 0.8128.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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