Prices are probing below channel midline support at 1.3223 after putting in a bearish Gravestone Doji candlestick, with a break lower targeting the formation’s bottom at 1.3105. Near-term resistance is at 1.3283, the May 1 high, with a push above that exposing the March 27 top at 1.3384.
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