Price action on EUR/USD (a daily chart of which is shown) as of Monday (4/04/2011) has reached a high of 1.4266 in early trading, establishing a new 5-month high and closely approaching the 1.4280 resistance high reached in early November 2010. This occurs within the context of a persisting uptrend that began in the beginning of 2011. The 1.4280 price region represents exceptionally strong resistance. For more technical analysis on this currency pair, please click here for Monday’s (4/04/2011) Chart of the Day.
James Chen, CTA, CMT
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