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EUR/USD Technical Analysis: Sellers Overcome 1.31 Figure

Ilya Spivak

EUR/USD Technical AnalysisPrices 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.

dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Sellers Overcome 1.31 Figure

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

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