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EUR/USD Technical Analysis 02.04.2013

EUR/USD Technical Analysis 02.04.2013

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Analysis- Prices broke above resistance at 1.3492, the 76.4% Fibonacci expansion, with buyers now challenging the 100% level at 1.3644. A push above that aims for the 123.6% expansion at 1.3796. The 1.3492 mark has been recast as near-term support. A reversal back below that eyes the 61.8% Fib at 1.3397.

Forex_EURUSD_Technical_Analysis_02.04.2013_body_Picture_1.png, EUR/USD Technical Analysis 02.04.2013

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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