EURUSD Former Support Line Now Resistance above 13300
Prepared by Jamie Saettele, CMT
Immediate focus for the EURUSD is 13300, which is defined by the 61.8% retracement of the decline from 13485, 3/8 high (13290) and former support line. Support for Tuesday is 13185 but the specter of 5 waves up from 13002 demands that we respect the potential for a deeper corrective decline into 13120/40 before resumption of the bull trend.
Bottom Line (next 5 days): sideways / higher?
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