EUR/USD Technical Analysis– Prices turned lower as expected, snapping the rising trend established from mid-May. A break past support at 1.3105, the 50% Fibonacci retracement, has exposed the 61.8% level at 1.3032. The 1.3105 mark has been recast as near-term resistance. A move back above that aims for 1.3178, the 38.2% Fib.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Finance Trading
- Basic Materials Industry