Prices broke resistance at the 23.6% Fibonacci retracement at 0.8066, exposing the underside of a previously broken rising trend line set from late July (0.8088). A push above that aims for the 14.6% level at 0.8103. The 0.8066 level has been recast as support, with a drop below that aiming for the 38.2% retracement at 0.8006.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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