Prices continue to consolidate below resistance at 0.8470, the February 29 2012 high. Near-term support is in the 0.8317-55 area, with a break below that aiming for rising channel support at 0.8246. Alternatively, a reversal above 0.8470 eyes the channel top at 0.8628.
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