DislikedI'm probably being dense but why was 7676 a resistance point? I can't qualify it on daily or 4HR charts? I am not disputing it, would just appreciate the education :-) CheersIgnored
if you zoom into the 2hr/1hr charts, you'll find that that level was also significant support in august on the few days when the pair went above 77cents.
the pair has been driven by fundamentals today and may still have strength to the upside. since the pair already tested 7676 twice today, the risk is that if and when it next reaches it, it may break above (and then you won't see it on the daily chart as a candle wick top).
the next visible target is 7690. not very strong, but should still provide at least 10-15pips' bounce. on the daily chart the next obvious strong resistance is 7720 after that.