"Pair has managed to break above key 0.8860/80 area, now immediate support, as represents the 61.8% retracement of the daily fall from 0.93 to 0.80. Hourly indicators keep saturating at the top, yet price continues heading higher, with 4 hours indicators strongly bullish keeping corrective bearish movements limited to the mentioned strong zone", said Valeria Bednarik, analyst at FXstreet.com.

Fri, Jul 23 2010, 00:09 GMT
http://www.fxstreet.com