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EUR/USD Technical Analysis: Downward Reversal at Hand?

Ilya Spivak

EUR/USD Technical AnalysisPrices are pulling back from resistance at a falling trend line set from February, with a break below initial upward-sloping support (1.3262) exposing the 23.6% Fibonacci expansion at 1.3188. Alternatively, a reversal above resistance (now at 1.3325) exposes the June 18 high a 1.3416.

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dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Downward Reversal at Hand?

Daily Chart - Created Using FXCM Marketscope 2.0

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

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