Prices broke resistance at the top of a falling channel set from the mid-September swing top to expose the next upside barrier at 0.8317, marked by the April 13 high. A further a push above that targets the February 29 high at 0.8470. Channel top resistance-turned-support is at 0.8243, with a break back below that aiming for 0.8143.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
