EUR/USD Technical Analysis: Monthly Uptrend Unravels

DailyFX

EUR/USD Technical AnalysisPrices turned lower as expected, snapping the rising trend prevalent since mid-May. Sellers are now testing support at 1.3268 marked by the 23.6% Fibonacci retracement, with a break below that exposing the 38.2% level at 1.3178. Near-term resistance is at 1.3324, the 14.6% Fib, with a move above that eyeing the June 18 high at 1.3415.

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dailyclassics_eur-usd_body_Picture_6.png, EUR/USD Technical Analysis: Monthly Uptrend Unravels

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

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