Price action on EUR/USD (a daily chart of which is shown) as of Friday (2/25/2011) has tentatively retreated after having approached resistance in the 1.3860 price region, which represents the significant high reached in early February. This occurs within the context of a trading range consolidation that has been in place since late January. For more technical analysis on this currency pair, please click here for Friday’s (2/25/2011) Chart of the Day.
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