The background is dominated by the line drawn from half of the net gains from 8 weeks ago, 1.0138. This point has been tested in each of the last 3 weeks but without breaking on a weekly closing basis. Yesterday's sharp acceleration away from that point adds to its relevance.
And it is yesterday's powerful gains - the most aggressive of 2013 - that has formed the 2nd Marabuzo line.
This comes in at 1.0192 and has held the Asian setback. It isn't yet clear that a more severe test of the level won't be seen but likely that traders who missed yesterday's move will look for that point to put matters right.
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