Prices are testing support at 1.5822, the November 15 low. A break downward targets resistance-turned-support at 1.5736. Near-term resistance is at the 1.60 figure, with a push above that aiming for the underside of a formerly broken rising trend line (now at 1.6044).
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Investment & Company Information