It took this pair over 4 months to break through this 1.0150 level. Beginning on November 8, 2010 with several attempts ending in March 23, 2011 when it finally broke higher is what makes this level a convincing support while price action is above- resistance while price action is below. Notice recently the slow churn climb back above this level after testing .9700 lows. Additionally, it has penetrated TWO downward sloping trendline resistances. Look for good supply in this 1.0350 area all the way up to 1.0400 test. Below 1.0150 and .9800 should be supportive as prices apparently are consolidating within a triangle on the daily chart.
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