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EUR/USD Technical Analysis 05.09.2013

EUR/USD Technical Analysis 05.09.2013

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Analysis– Prices broke above resistance at 1.3128, the 38.2% Fibonacci expansion, exposing the 50% level at 1.3181. A further push above that aims for the 61.8% Fib at 1.3235. The 1.3128 mark has been recast as near-term support, with a move back beneath that targeting a rising trend line now at 1.3066. We continue to hold long.

Forex_EURUSD_Technical_Analysis_05.09.2013_body_Picture_5.png, EUR/USD Technical Analysis 05.09.2013

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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