EUR/USD Technical Analysis 05.13.2013

DailyFX

EUR/USD Technical Analysis– Prices broke below the 23.6% Fibonacci expansion at 1.3014, exposing the 1.2873-1.2904 area marked by a downward-sloping neckline and the 38.2% level. A further push beneath that aims for the 50% Fib at 1.2759. The 1.3014 level has been recast as near-term resistance, with a bounce back above that eyeing the underside of a recently broken rising trend line at 1.3089.

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Forex_EURUSD_Technical_Analysis_05.10.2013_body_Picture_5.png, EUR/USD Technical Analysis 05.13.2013

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

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