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Talking Points
- Prices testing Double Top resistance at 1.5720, bolstered by the 38.2% Fib exp. (1.5771)
- A break upward initially exposes the 50% expansion at 1.5878
- Negative RSI divergence warns of turn lower. Channel support (1.5580) break need to confirm
Confirm your chart-based trade setups with the Technical Analyzer.
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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