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

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