Prices broke resistance in the 0.8317-55 area, marked by the April 13 and September 28 highs. Buyers now aim to challenge the February 29 high at 0.8470. The 0.8317-55 region has been recast as near-term support, with a drop back below that aiming for channel top resistance-turned-support at 0.8238.
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