Pair reached a weekly high at 0.8870, barely below the 61.8% retracement of the weekly fall from 0.9360 to 0.8066, yet again failed to break above it: pair has tested that area back on June 21st, forming now a probable double roof in that strong Fibonacci level. However, neck line lies well below current price, around 0.8315, where pair set 2 daily lows, on July 1st and 6th. Immediate support under mentioned 0.8681 weekly low, comes at 0.8640 area, intraday highs from past June, while resistances are now at 0.8730, 50% retracement of the mentioned rally, and 0.8780 area, where we locate several intraday highs and lows.

Fri, Jul 16 2010, 17:11 GMT
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