What technical levels remain in play and why
The FOMC meeting minutes will be released at 2:00 PM ET. What levels are in play
ON the topside, the pair has the 1.1435 -1.1465 level to to get to and through if the bulls are to take even more control. That area corresponds with swing highs going back to Feb 2015. IN August of 2015, the price raced above this level on it's way to 1.1711 high. In October the price squeaked above the 1.1465 level but failed and came tumbling down over the next month. So on the topside, a move above the 1.1465 will be eyed
ON the downside, there are two key levels.
The lowest extreme is the 1.1323. This is the underside of the broken trend line. The low today went right to that level and found buyers
The other area to eye would be the 1.1376-86 area. The 1.1376 is the high from February 11th. The 1.1386 is the closing levels from Friday, Monday and again yesterday (closed at 1.11383 yesterday). So a move below the 1.1376-86, will be step one. A move below 1.1323 would be step two.
.
