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EUR/USD Technical Analysis 03.27.2013

EUR/USD Technical Analysis 03.27.2013

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Analysis– Prices are testing below support at 1.2843, the 23.6% Fibonacci expansion. A break downward confirmed on a daily closing basis exposes the 38.2% level at 1.2716. Near-term falling channel resistance is at the 1.3022.

Forex_EURUSD_Technical_Analysis_03.27.2013_body_Picture_5.png, EUR/USD Technical Analysis 03.27.2013

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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