EUR/USD Technical Analysis 05.01.2013

DailyFX

EUR/USD Technical Analysis– Prices broke above resistance at 1.3113, the 38.2% Fibonacci retracement level, exposing the 1.3201-27 area marked by the April 16 high and the 50% level. A further push above that aims for the 61.8% Fib at 1.3341. The 1.3113 level has been recast as near-term support, with a break back beneath that eyeing the 23.6% retracement at 1.2972. We continue to hold long.

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Forex_EURUSD_Technical_Analysis_05.01.2013_body_Picture_5.png, EUR/USD Technical Analysis 05.01.2013

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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