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EUR/USD Technical Analysis: June Swing High Exposed

By , Currency Strategist
26 July 2013 03:20 GMT

EUR/USD Technical AnalysisPrices invalidated a Harami candlestick pattern identified yesterday, pushing upward to take out resistance at 1.3259 marked by the 76.4% Fibonacci retracement. The bulls now aim to challenge the June 18 swing high at 1.3416. The 1.3259 mark has been recast as near-term support, with a reversal beneath that initially targeting the 61.8% Fib at 1.3162.

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dailyclassics_eur-usd_body_Picture_9.png, EUR/USD Technical Analysis: June Swing High Exposed

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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26 July 2013 03:20 GMT