Price action on EUR/USD (a daily chart of which is shown) as of Monday (4/18/2011) has broken down below key support levels, including both the key 1.4280 price level and a strong bullish support trendline that has been in place since the beginning of the year. This critical breakdown occurs after price action toyed with key 1.4500 resistance for all of last week. For more technical analysis on this currency pair, please click here for Monday’s (4/18/2011) Chart of the Day.
James Chen, CTA, CMT
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