EUR/USD Technical Analysis– Prices are testing support at 1.2953, the April 24 low, with a break lower targeting the 38.2% Fibonacci expansion at 1.2873. A further push beneath that aims for the 50% Fib at 1.2759. Near-term resistance is at the underside of a recently broken rising trend line (now at 1.3100), with a turn back above that eyeing the April 16 high at 1.3201.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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