10.11.2008 13:52

EUR/USD techs:



Resistance 3: $1.3110
Resistance 2: $1.3020
Resistance 1: $1.2940
Current price: $1.2897
Support 1: $1.2680
Support 2: $1.2530
Support 3: $1.2330

Comments: Closest resistance is $1.2940 and $1.3020 ( 21DMA, and upper bound of the triangle) and sustained break above will lead to retest of November 5 high at $1.3110/20 . October 30 peak $1.3300 (38.2% of the $1.4860 decline) remains pivotal resistance.

Closest support is the lower bound of the continuation triangle pattern currently around $1.2680/85. Further down rests Nov 4 low $1.2530.October 27 and 28 lows at $1.2330 area remain the key target.






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