EUR/USD Technical Analysis: Trend Line Break Overturned

DailyFX

EUR/USD Technical AnalysisPrices swiftly overturned yesterday’s trend line break, rebounding from support at 1.2750 marked by the March 27 low. The bulls are now testing resistance at 1.3007, the 38.2% Fibonacci retracement, with a daily close above that exposing the 50% level at 1.3085. Near-term support is at 1.2910, the 23.6% Fib.

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dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Trend Line Break Overturned

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

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