EUR/USD Technical Analysis– Prices swiftly overturned yesterday’s trend line break, rebounding from support at 1.2750 marked by the March 27 low. The bulls are now testing resistance at 1.3007, the 38.2% Fibonacci retracement, with a daily close above that exposing the 50% level at 1.3085. Near-term support is at 1.2910, the 23.6% Fib.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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