• EUR/USD continues to break daily trendlines and make 2006 highs.
• The recent pullback presents an opportunity to buy a dip in anticipation of continued strength.
• Significant resistance ahead also presents a possible reversal opportunity.

Key Levels - Current Price: 1.2311

Level   Type            Significance
1.2651  Resistance   50% of 1.3666-1.1640
1.2588  Resistance   9/02/2005 high
1.2485  Resistance   8/12/2005 high
1.2409  Resistance   38.2% of 1.3666-1.1640
1.2393  Resistance   4/19/2006 high
1.2224  Support        4/18/2006 low
1.2176  Support        38.2% of 1.1825-1.2393
1.2065  Support        4/12/2006 low
1.1959  Support        76.4% of 1.1825-1.2393
1.1825  Support        2/27/2006 low (a break here negates implications from inverse head & shoulders)

Daily Chart Analysis I

Weekly Chart Analysis

Daily Chart Analysis II

Daily Chart Analysis III

Jamie Saettele is a Technical Currency Analyst for FXCM.