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EUR/USD Technical Analysis 03.07.2013

EUR/USD Technical Analysis 03.07.2013

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Analysis– Prices are testing resistance at 1.3061, the 61.8% Fibonacci retracement, with positive RSI divergence hinting a move higher may be ahead. Initial resistance is reinforced by a falling trend line at 1.3124, with a break above that targeting the 50% level at 1.3185. Near-term support is at 1.2965, the March 1 low, followed by the 76.4% Fib at 1.2907.

Forex_EURUSD_Technical_Analysis_03.07.2013_body_Picture_3.png, EUR/USD Technical Analysis 03.07.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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