By
Forex4you |
Technical Analysis | Oct 18, 2011 11:44AM GMT |
The exchange rate is consolidating at its highs. It is possible it could push higher, reaching the top of the channel drawn from yesterday's lows at 0.9050 and then perhaps even higher to 0.9110. Alternatively it could fall to support at 0.8995, and a deeper bear move could reach the neckline of a possible head and shoulders top forming on the 4-hour chart at 0.8915.

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