Prices are testing resistance at 0.8470, the February 29 high, with a Harami candlestick pattern warning that a pullback may be ahead. Near-term support is in the 0.8317-55 area, with a drop below that exposing the channel bottom at 0.8172.Alternatively, a break above resistance targets rising channel resistance at 0.8555.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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