Prices are turning lower as expected after putting in a Spinning Top candlestick coupled with negative RSI divergence below the 145.00 figure. Sellers are now probing through rising channel support at 141.37, with a break lower exposing the 137.85-139.37 area. Initial resistance is at 142.60. A turn above that eyes 144.79.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news on the economic reports and political events that influence the currency market.
Learn currency trading with a free practice account and charts from FXCM.