EUR/USD Technical Analysis– Prices remain wedged between a rising trend line set from the March 27 low (1.3026) and the 38.2% Fibonacci expansion at 1.3127. A break above that initially aims for the 50% level at 1.3181. Alternatively, a reversal beneath the trend line eyes a previously broken neckline at 1.2925. 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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