EUR/USD Technical Analysis– Prices are testing support at a rising trend line set from mid-November 2012, a barrier reinforced by the 61.8% Fibonacci expansion at 1.2810. A break below this boundary initially exposes the 76.4% level at 1.2747. Near-term resistance is at 1.2861, the 50% Fib, with a break above that targeting the 38.2% expansion at 1.2912.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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