EURUSD Classic Technical Report 07.20.2012

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Prices are testing resistance at 1.2323, with a break higher initially exposing 1.2406. Near-term rising trend line support is now at 1.2245. A breach below that level exposes the July 13 low at 1.2161.

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

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