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EUR/USD Technical Analysis 05.03.2013

By , Currency Strategist
03 May 2013 11:52 GMT

EUR/USD Technical Analysis– Prices are pulling back from support at a rising trend line set from the March 27 low to test the 38.2% Fibonacci expansion at 1.3127. A break above that initially aims for the 50% level at 1.3181. Trend line support is now at 1.3027. We continue to hold long.

Forex_EURUSD_Technical_Analysis_05.03.2013_body_Picture_5.png, EUR/USD Technical Analysis 05.03.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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

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03 May 2013 11:52 GMT