The technical picture is still unresolved, with price activity compressed within a 0.83-0.8480 day range for most of this year, yet the recent upside break suggests a retest of February highs is looming. According to varies market sources, there is some talk of a 0.8500 barrier, which should imply some stops above. Notice since February 2012, this level has been defended tooth and nail.
A break higher opens up next target at 0.8565/70, August 2011 high, immediate support is now seen at 0.8425/30, intraday level.
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