Forexzilla.org

EUR/USD broke out of the wedge pattern to the upside. The excuse for this were the worse than expected University of Michigan index and rumors that the April NFP figure will be revised much lower after the much weaker sum of state data. The measured move is 300 pips and the target is 1.5850. Although this is possible if the next weeks major data releases for the Eurozone come better than expected. Resistance is @ 1.5645 and 1.5710, while support is @ 1.5440 and 1.5365.