Fifth attempt to clear and move above the red channel halted again in morning trading session. Immediate resistance is the red channel upper boundary. A breakout above the Ichimoku kumo cloud region will meet the grey resistance belt.The next resistance is the upper dual resistance bands of the green channel followed by the pink resistance zone. Expect more probable resistances at the coloured bands above this pink zone.
Immediate support is formed by the light blue zone. Any attempt to breakdown below the Ichimoku kumo cloud must challenge the brown support region. Support failure here will plummet price into the pink channel and retest 1.70 trough formed on 19 Feb 2010.
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