The common currency broke past the initial, steeper trend line. But it is finding support near the confluence of the major trend line and the horizontal support level. The price level near 1.1100 remains strong for the moment.As long as this holds, we could expect some upside in prices.
However, the upper resistance level near 1.1200 comes into question. Alternatively, a break down below 1.1100 and the trend line will trigger further declines. We expect the older support at 1.0958 to then come into the picture eventually.
