EUR/USD Technical Analysis 05.01.2013
EUR/USD Technical Analysis– Prices broke above resistance at 1.3113, the 38.2% Fibonacci retracement level, exposing the 1.3201-27 area marked by the April 16 high and the 50% level. A further push above that aims for the 61.8% Fib at 1.3341. The 1.3113 level has been recast as near-term support, with a break back beneath that eyeing the 23.6% retracement at 1.2972. We continue to hold long.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.