EUR/USD Technical Analysis– Prices put in a Shooting Star candlestick below resistance in the 1.3201-27 area, marked by the April 16 high and the 50% Fibonacci retracement, hinting a pullback may be ahead. Near-term support is at 1.3113, the 38.2% level, with a break beneath that eyeing the 23.6% retracement at 1.2972. Alternatively, a push through resistance targets the 61.8% Fib at 1.3341. 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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