Prices broke resistance in the 0.8317-55 area, exposing the February 29 high at 0.8470.A push above that exposes rising channel top resistance at 0.8597. The 0.8317-55 region is now acting as support, with a reversal back below that aiming for the channel bottom (now at 0.8215).
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
