EUR/USD Technical Analysis– Prices turned lower as expected, snapping the rising trend established from mid-May. A break past support at 1.3105, the 50% Fibonacci retracement, has exposed the 61.8% level at 1.3032. The 1.3105 mark has been recast as near-term resistance. A move back above that aims for 1.3178, the 38.2% Fib.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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