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EUR/USD Technical Analysis: Trend Line Support Holds

Ilya Spivak

EUR/USD Technical AnalysisPrices are testing support at a rising trend line set from mid-November 2012, now at 1.2825. A break beneath that sees support at 1.2805, the July 5 low, followed by the May 17 bottom at 1.2795. Near-term resistance is at 1.2949, the 23.6% Fibonacci retracement.

dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Trend Line Support Holds

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

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