Support on the downside was reaffirmed today when the decline stalled at the swing zone between 1.35804 and 1.35919, where buyers stepped back in to defend the dip. The bounce from that area and reclaiming of old resistance reinforces the bullish bias.
The next target on a move above the high from yesterday?
Key levels:
Support: 1.36158–1.36330 (broken swing ceiling), 1.35804–1.35919 (swing low support)
The bulls are back in control above the old ceiling, but need a sustained break above 1.36477 to extend the rally further.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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