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EUR/USD Technical Analysis 03.19.2013

EUR/USD Technical Analysis 03.19.2013

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Analysis– Prices are testing support at 1.2918, marked by the 23.6% Fibonacci expansion and the bottom of a short-term falling channel. A break beneath that exposes the 38.2% Fib at 1.2801. Near-term resistance is broadly at the 1.31 figure, established by the close proximity of the channel top (1.3098) and the March 15 swing high (1.3106).

Forex_EURUSD_Technical_Analysis_03.19.2013_body_Picture_5.png, EUR/USD Technical Analysis 03.19.2013

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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