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Forex Trading: EURUSD approaching resistance at 1.5571

Posted by Greg Michalowski on Tue, 05/06/2008 - 9:19am in

The 1.5571 level is shaping up as good resistance. Have the 200 hour moving average and the 61.8% retracement level of the move down from the April 28th high to the low on May 2nd.  I would expect sellers against this level this morning.