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EUR/USD Technical Analysis 02.28.2013

EUR/USD Technical Analysis 02.28.2013

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Analysis– Prices are testing resistance at 1.3171, the 14.6% Fibonacci retracement. A break higher targets the 1.3253-1.3266 area, marked by a falling trend line and the 23.6% level. Initial support is at 1.3017, the February 26 low.

Forex_EURUSD_Technical_Analysis_02.28.2013_body_Picture_5.png, EUR/USD Technical Analysis 02.28.2013

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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