EUR/USD Technical Analysis– Prices broke above resistance at 1.3113, the 38.2% Fibonacci retracement level, exposing the 1.3201-27 area marked by the April 16 high and the 50% level. A further push above that aims for the 61.8% Fib at 1.3341. The 1.3113 level has been recast as near-term support, with a break back beneath that eyeing the 23.6% retracement at 1.2972. We continue to hold long.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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