EUR/USD Technical Analysis: Bulls Challenge 1.33 Mark

DailyFX

EUR/USD Technical AnalysisPrices advanced as expected after putting in a Bullish Engulfing candlestick pattern. The pair has broken above a falling trend line set from early February and the 76.4% Fibonacci expansion (1.3176), exposing the 100% level at 1.3293. A push above that aims for the 123.6% Fib at 1.3411. The 1.3176 level has been recast as near-term support, with a drop back beneath that eyeing the 61.8% expansion at 1.3103.

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dailyclassics_eur-usd_body_Picture_5.png, EUR/USD Technical Analysis: Bulls Challenge 1.33 Mark

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

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