EUR/USD Technical Analysis– Prices broke above resistance at 1.3128, the 38.2% Fibonacci expansion, exposing the 50% level at 1.3181. A further push above that aims for the 61.8% Fib at 1.3235. The 1.3128 mark has been recast as near-term support, with a move back beneath that targeting a rising trend line now at 1.3066. 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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