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EUR/USD Technical Analysis 03.29.2013

By , Currency Strategist
29 March 2013 07:56 GMT

EUR/USD Technical Analysis– Prices broke below support at 1.2843, the 23.6% Fibonacci expansion, exposing the 38.2% level at 1.2716. A further drop below that aims for the 50% Fib at 1.2614. The 1.2843 level has been recast as near-term resistance, with a move back above that eyeing a rising channel top at 1.3007.

Forex_EURUSD_Technical_Analysis_03.29.2013_body_Picture_5.png, EUR/USD Technical Analysis 03.29.2013

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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29 March 2013 07:56 GMT