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Forex Analysis: EUR/USD Classic Technical Report 12.28.2012

By , Currency Strategist
28 December 2012 06:44 GMT

Prices are holding above channel midline support and probing resistance at 1.3283, the May 1 high. This barrier is reinforced by the channel top at 1.3328. A break above that exposes the March 27 high at 1.3384. Alternatively, a reversal below the midline (1.3210) exposes the channel bottom at 1.3091.

Forex_Analysis_EURUSD_Classic_Technical_Report_12.28.2012_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 12.28.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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28 December 2012 06:44 GMT