Chart logic would suggest that the Euro
would now bounce off the Support Line to have a rebound against the US Dollar
. As the Resistance Line and Support Line are converging, eventually there must be a break-out either upwards or downwards. Good economic performance in America indicates an Imminent interest rate rise in the Dollar zone, while Europe continues its Zero Interest Rate policy. This can only mean that the Europe will fall further against the Dollar. A break-out through the Support Line could, therefore, be imminent, as the Euro
plunges further against the Dollar.