WEEKLY CHART: Breaking the 1.2328 Oct-08 low turned attention towards lower supports, including the 1.1435 equality target (Jul/Oct-08 fall extended off 1.5144 Nov-09 high) and lower bear channel base projection.

However, focus is on the Daily chart below, with possibility of a shorter term bull signal which would postpone lower values.

DAILY CHART:

An earlier positive RSI divergence marked a s/term halt in downtrend, and now Thursday has seen an initial breach of the s/term falling resistance line.

In the FX Specialist Guide we require a recovery/close through the 23.6% retracement at 1.2645 to open the way for further gains. But also note the higher falling resistance line currently around 1.2800, which is closing in on this Fibo level now.