Euro Breaks Support

08/11/2008 12:00 am EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

The sharp decline in the Euro (rally in the dollar) took it below key support suggesting that an intermediate term top was in place. The weekly RSI formed multiple negative divergences and has now broken key support. Chart support now in the 1.4500 area with resistance at 1.5300.

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