The U.S. dollar started gaining momentum after the post jobs data. The U.S. dollar is the top performer against most major currencies. During the previous week, the pair managed to breach the previous high of 0.9688 in intraday session, but was unable to close above that on a weekly basis. We are waiting patiently for a new breakout on the higher side in the weekly chart. In case, if the price closes above 0.9688 on a weekly closing basis, it can challenge for 0.9800, 0.9840, 0.9970 and 1.017 levels. The parallel monthly resistance exists at 0.9751 levels. We have been recommending the same targets for the last month (October 06, 2014 article).
As of now, today the pair is unable to break 0.9688 made a high at 0.9685 levels. We recommend intraday buying above 0.9690 for targets at 0.9715, 0.9726, 0.9740 and finally 0.9800 levels. Please remember the pair has strong parallel resistance exists at 0.9751 levels.
The material has been provided by InstaForex Company - www.instaforex.com
