Prices finally took out resistance in the 0.8082-92 area marked by a former range bottom and the 61.8% Fibonacci retracement, with the bulls now aiming to challenge 0.8262. The 0.8082-92 has been recast as support, with a turn back through that targeting the 0.80 figure.

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Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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