Testing of dual resistance of blue channel in progress. A move into the upper channel region will meet the 50% Fibonacci Retracement resistance followed by the green resistance belt. If further buying interest continues a retest of 61.8% Fibonacci Retracement resistance is imminent.
However if the upper channel resistance cannot be overcome then expect a pullback to 1.40 and the lower blue channel support if there is further weakness.
View chart at
http://tactcharts.blogspot.com/2010/04/yangzijiang-testing-channel-resistance.html
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