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EUR/USD Technical Analysis 04.29.2013

EUR/USD Technical Analysis 04.29.2013

2013-04-29 10:29:00
Ilya Spivak, Head Strategist, APAC
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EUR/USD Technical Analysis– Prices are testing support at 1.2973, the intersection of the 23.6% Fibonacci expansion and a formerly broken falling trend line. The pullback appears corrective at this stage and we will continue to hold long for now. A break downward exposes the 38.2% Fib at 1.2832. Near-tem resistance is at 1.3201, the April 16 high.

Forex_EURUSD_Technical_Analysis_04.29.2013_body_Picture_5.png, EUR/USD Technical Analysis 04.29.2013

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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