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EUR/USD Hits 1.4000 on NFP

EUR/USD (a daily chart of which is shown) as of Friday (3/04/2011) shot up to hit key resistance at 1.4000 on the Non-Farm Payrolls report before quickly retreating back down in a swift whipsaw move. The fact that the highly significant 1.4000 psychological level could not be substantially breached as of yet strengthens its importance as the current level to watch. For more EUR/USD forex technical analysis, please click here.

James Chen, CTA, CMT