By
Cory Mitchell |
Technical Analysis | Aug 18, 2009 12:00AM GMT |
In an accelerated uptrend the pair briefly broke through resistance at 1.1100. Early trading has provided support and is creating a bullish continuation pattern. A push back above 1.1100 gives early warning of a swing higher but will be comfirmed if rates move beyond 1.1130.
Resistance on the way up is just below 1.1100.
A drop below 1.1020 signals selling of the USD pushing the rate down. 1.0970 is the support beyond.
Cory Mitchell, CMT
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