Prices are pulling back from resistance at 0.8411, the 123.6% Fibonacci expansion. Initial support is at 0.8348, the 100% level, with a break below that targeting 76.4% Fib at 0.8286. Alternatively, a reversal above 0.8411 eyes the 138.2% expansion at 0.8449.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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