Prices are retesting support-turned-resistance at a rising trend line set from late February (0.9299), a barrier reinforced by a downward-sloping barrier set from the July 24 swing high (now at 0.9321). A break above the latter level exposes 0.9420. Initial support is at 0.9214, the October 18 low, with a reversal beneath that targeting 0.9042.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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