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EUR/USD Technical Analysis 03.01.2013

EUR/USD Technical Analysis 03.01.2013

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Analysis– Prices are testing below support at 1.3061, the 61.8% Fibonacci retracement. A break lower aims for the 76.4% level at 1.2907. Near-term resistance is at 1.3185, marked by the intersection of the 50% Fib and a downward-sloping trend line set from the February 1 high.

Forex_EURUSD_Technical_Analysis_03.01.2013_body_Picture_5.png, EUR/USD Technical Analysis 03.01.2013

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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