By
Forex4you |
Technical Analysis | Oct 14, 2011 10:57AM GMT |
The exchange rate is consolidating in a range and if it continues rising within the range it will target the highs at 1.3830; otherwise, if it falls it could find support at 1.3715 from a cluster of monthly and daily pivots. There are bearish indications on the daily where the rally has retraced 50% of the previous move and the Ichimoku chart is signalling resistance for kijun-sen, however price has yet to confirm.

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