Prices put in a bearish Evening Star candlestick pattern, hinting a move lower is ahead. Initial support is at 1.3255, with a break below that targeting the 1.3119-29 area. This barrier is reinforced by a rising trend line set from the July 24 2012 bottom. Near-term resistance is at 1.3403, the January 14 high.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE