MONTHLY CHART In the FX Specialist Guide we have continued to note a positive RSI divergence, which questions the longer term bears' resolve.

The major 1995 low just under 80.00 is so far providing support.

WEEKLY CHART The downtrend in 2010 fell short of the projected bear channel base, the next support on this chart.

First resistance here comes from the late 2009 84.81 low - see also Daily chart, though.

DAILY CHART:

The breach of the bear channel top was a positive sign - note how the recent pullback found support from this old line, as well as the 76.4% retracement.

On the upside focus should be on the 85.86/93 area, 38.2% recovery and 16-Sep high. However, the more key, pivotal resistance area is 87.60/88.00, 50% recovery and old key support.