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Talking Points
- Prices are testing above resistance at 1.5878 (50% Fib) to take aim at 1.5985 (61.8% Fib)
- Near-term support is in the 1.5750-71 area (June 17 high, 38.2% Fib)
- A break below 1.5750 targets a rising channel bottom, now at 1.5646
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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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