E/U Today 23 March 2011

Title: EUR/USD intraday: key resistance at 1.425.
Summary: Update on supports and resistances.
Story: Pivot: 1.425

Our preference: Short positions below 1.425 with targets @ 1.4155 & 1.41 in extension.

Alternative scenario: Above 1.425 look for further upside with 1.428 & 1.434 as targets.

Comment: the pair has broken below its channel support.

Key levels
1.434
1.428
1.425
1.4183 last
1.4155
1.41
1.404