Support/Resistance of the Day - EUR/USD (2 June 2011)

H4 Chart

R3 1.4506
R2 1.4453
R1 1.4421
Pivot 1.4368
S1 1.4315
S2 1.4283
S3 1.4230

EU broke the up flag yesterday but not it rebound back to R2 level and met the projected downward trendline from previous high price. EU is facing a stong resistance level from the up glaf and R2 level and the last candle show retrace of EU price after it broke R2 level. MACD show uptrend of the chart, EU will continue test out this level to reach R3 level. It it could broke R3 level, most likely EU will experience another uptrend.