EURUSD Could Make Secondary top above 13000
240 Minute Bars
Prepared by Jamie Saettele, CMT
The area in front of 12800 is proving strong as support, which raises the specter of a more pronounced bounce. Initial resistance from the 38.2% retracement of the decline from 13071 was nearly reached. A push through would probably result in a test of the 61.8% retracement / 9/21 high at 13030/47. Near term support is 12860 and a drop below 12802 would eliminate anything constructive in the near term and shift focus to the much discussed 12740/50.
LEVELS: 12754 12802 12860 12944 13030 13084