EUR/USD Technical Analysis– Prices turned lower as expected, snapping the rising trend prevalent since mid-May. Sellers are now testing support at 1.3178 marked by the 38.2% Fibonacci retracement, with a break below that exposing the 50% level at 1.3105. Near-term resistance is at 1.3268, the 23.6% Fib, with a move above that eyeing the 14.6% retracement at 1.3324.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.