is currently testing the previous levels of its 2008/09 highs. This is quite clearly a key resistance area
. However i believe that when the price moves through this barrier and can hold a close above then it's most likely to continue it's bullish trend
. This trade also has great risk vs reward. To back up the technical side of things it's also widely assumed that the US will be rising rates in the near future which will only do good things for the currency. My two price targets and stop are clearly shown on the chart. I'll be waiting for a close above 1.3000 to pull the trigger.