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Talking Points
- Bounce from rising trend line has exposed the 154.33-155.00 area (channel top, 38.2% Fib expansion)
- Support seen in the 149.74-150.77 region (trend line set from mid-February, rising channel bottom)
- Break under 149.74 eyes support at 147.69; push above resistance targets 156.57 (50% Fib)
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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
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