EURUSD rebounded from 1.4626 level

07 November 2009 @ 12:19 am EDT

After touching the lower border of the rising price channel on daily chart, EURUSD rebounded from 1.4626 level. The rise from 1.4626 is more likely resumption of uptrend from 1.3748, another rise towards 1.5200 is now in favor. Key support level is located at 1.4626, fall below this level will indicate that the uptrend from 1.3748 has completed at 1.5062 already, then the following downtrend could take price back to 1.4000 area.

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